Amex calls out 'strong' spending and credit trends as earnings beat estimates

📆 20/10/2023 6:11 a. m.
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Net write-off rates and delinquency rates are still below prepandemic levels

American Express Co. easily topped profit expectations for its third quarter, while calling out healthy spending and “strong” credit metrics.

Total revenues net of interest expense climbed to $15.4 billion from $13.6 billion a year before and made for Amex’s AXP, -1.26% sixth straight quarter of record revenue, the company said. Amex’s revenue matched the FactSet consensus.

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