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FILE - An American Express card is shown on Jan. 18, 2024, in Atlanta. (AP Photo/Mike Stewart, File)

American Express profit rises in Q3 as card members continue to spend

American Express’ third-quarter profit topped analysts’ expectations as the credit card company’s cardholders continue to spend, with many holding a balance

By MICHELLE CHAPMAN
Published - Oct 18, 2024, 09:13 AM ET
Last Updated - Dec 16, 2024, 06:12 PM EST

NEW YORK (AP) — American Express' third-quarter profit topped analysts' expectations as the credit card company's cardholders continue to spend, with many holding a balance.

American Express earned $2.51 billion, or $3.49 per share, for the period ended Sept. 30. That compares with $2.45 billion, or $3.30 per share, a year earlier.

The performance beat the $3.27 per share that analysts surveyed by Zacks Investment Research were calling for.

Revenue totaled $16.64 billion, meeting Wall Street's estimates.

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