American Express Sees ‘Mixed Signals’ in Economy but Consumer Spending Still Strong

Started by Epoch-Times-Bot, Oct 22, 2022, 07:30 AM

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Oct 22, 2022, 07:30 AM
American Express Sees 'Mixed Signals' in Economy but Consumer Spending Still Strong

The CFO of American Express said that consumer spending trends remain strong, despite acknowledging "mixed signals" in the economy.
AmEx reported a 21 percent rise in cardmember spending in the previous quarter, as the goods and services and the travel and entertainment categories witnessed growth.
The financial services company posted on Oct. 21 better-than-expected earnings for the third quarter of $1.88 billion in net income, or $2.47 a share.
This is an increase from $1.83 billion for the year-prior quarter, at $2.27 a share.
The FactSet consensus was for $2.40 a share in earnings this period, according to MarketWatch.
AmEx gained $13.56 billion in total revenues in net interest revenue for the third quarter, just above the $13.52 billion expected by analysts....

Source: American Express Sees 'Mixed Signals' in Economy but Consumer Spending Still Strong

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