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American Express (NYSE:AXP) Third Quarter 2024 Results
Key Financial Results
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Revenue: US$16.0b (up 13% from 3Q 2023).
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Net income: US$2.51b (up 3.7% from 3Q 2023).
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Profit margin: 16% (down from 17% in 3Q 2023). The decrease in margin was driven by higher expenses.
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EPS: US$3.54 (up from US$3.30 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
American Express EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.5%.
Looking ahead, revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Finance industry in the US.
Performance of the American Consumer Finance industry.
The company’s share price is broadly unchanged from a week ago.
Balance Sheet Analysis
While it’s very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We’ve done some analysis and you can see our take on American Express’ balance sheet.
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