the companys ability to achieve its 2022 earnings per common share (EPS) outlook, grow earnings in the future and execute on its growth plan, which will depend in part on revenue growth, credit performance and the effective tax rate remaining consistent with current expectations and the companys ability to continue investing at high levels in areas that can drive sustainable growth (including its brand, value propositions, customers, colleagues, technology and coverage), controlling operating expenses, effectively managing risk and executing its share repurchase program, any of which could be impacted by, among other things, the factors identified in the subsequent paragraphs as well as the following: macroeconomic conditions, such as recession risks, effects of inflation, labor shortages, supply chain issues, higher interest rates and energy costs and the continued effects of the pandemic; the military conflict between Russia and Ukraine and related geopolitical impacts; issues impacting brand perceptions and the companys reputation; the impact of any future contingencies, including, but not limited to, restructurings, investment gains or losses, impairments, changes in reserves, legal costs and settlements, the imposition of fines or civil money penalties and increases in Card Member remediation; impacts related to new or renegotiated cobrand and other partner agreements; and the impact of regulation and litigation, which could affect the profitability of the companys business activities, limit the companys ability to pursue business opportunities, require changes to business practices or alter the companys relationships with Card Members, partners and merchants; the companys ability to achieve its 2022 revenue growth outlook, its revenue growth expectations for 2023 and its revenue growth aspirations for 2024 and beyond, which could be impacted by, among other things, the factors identified above and in the subsequent paragraphs as well as the following: a deterioration in macroeconomic conditions; consumer and business spending volumes, including in T&E categories and by large and global corporate clients, not growing in line with expectations; the strengthening of the U.S. dollar beyond expectations; an inability to address competitive pressures, invest with a longer-term view and implement strategies and business initiatives, including within the premium consumer space, commercial payments, the global merchant network and digital environment; uncertainty regarding the continued spread of COVID-19 (including new variants) and the availability, distribution and use of effective treatments and vaccines; prolonged measures to contain the spread of COVID-19 (including travel restrictions), concern of the possible imposition of further containment measures and health concerns associated with the pandemic continuing to affect customer behaviors and travel patterns and demand, any of which could further exacerbate the effects on economic activity and travel-related revenues; and merchant discount rates changing by a greater or lesser amount than expected; net card fees not performing consistently with expectations, which could be impacted by, among other things, a deterioration in macroeconomic conditions impacting the ability and desire of Card Members to pay card fees; higher Card Member attrition rates; the pace of Card Member acquisition activity; and the companys inability to address competitive pressures, develop attractive value propositions and implement its strategy of refreshing card products and enhancing benefits and services; net interest income and the growth rate of loans outstanding being higher or lower than expectations, which could be impacted by, among other things, the behavior of Card Members and their actual spending, borrowing and paydown patterns; the companys ability to effectively manage risk and enhance Card Member value propositions; changes in benchmark interest rates; changes in capital and credit market conditions and the availability and cost of capital; credit actions, including line size and other adjustments to credit availability; the yield on Card Member loans not remaining consistent with current expectations; and the effectiveness of the companys strategies to capture a greater share of existing Card Members spending and borrowings, and attract new, and retain existing, customers; future credit performance, the level of future delinquency and write-off rates and the amount and timing of future reserve builds and releases, which will depend in part on changes in consumer behavior that affect loan and receivable balances (such as paydown and revolve rates); macroeconomic factors such as unemployment rates, GDP and the volume of bankruptcies; the ability and willingness of Card Members to pay amounts owed to the company, particularly as forbearance and government support programs end; the enrollment in, and effectiveness of, financial relief programs and the performance of accounts as they exit from such programs; collections capabilities and recoveries of previously written-off loans and receivables; and governmental actions that provide forms of relief with respect to certain loans and fees, such as limiting debt collections efforts and encouraging or requiring extensions, modifications or forbearance; the actual amount the company spends on marketing in 2022 and beyond, which will be based in part on continued changes in the macroeconomic and competitive environment and business performance; the effectiveness of managements investment optimization process, managements identification and assessment of attractive investment opportunities and the receptivity of Card Members and prospective customers to advertising and customer acquisition initiatives; the companys ability to balance expense control and investments in the business; and managements ability to drive increases in revenues and realize efficiencies and optimize investment spending; the actual amount to be spent on Card Member rewards and services and business development, and the relationship of these variable customer engagement costs to revenues, which could be impacted by continued changes in macroeconomic conditions and Card Member behavior as it relates to their spending patterns (including the level of spend in bonus categories), the redemption of rewards and offers (including travel redemptions) and usage of travel-related benefits; the costs related to reward point redemptions; higher-than-expected customer remediation expenses; inflation; further enhancements to product benefits to make them attractive to Card Members and prospective customers, potentially in a manner that is not cost effective; new and renegotiated contractual obligations with business partners; and the pace and cost of the expansion of the companys global lounge collection; the companys ability to control operating expenses and the actual amount spent on operating expenses in 2022 and beyond, which could be impacted by, among other things, salary and benefit expenses to attract and retain talent, including with respect to an increased colleague headcount; a persistent inflationary environment; managements decision to increase or decrease spending in such areas as technology, business and product development, sales force, premium servicing and digital capabilities depending on overall business performance; the companys ability to innovate efficient channels of customer interactions and the willingness of Card Members to self-service and address issues through digital channels; the companys ability to increase automation more generally and leverage and grow its scale; restructuring activity; supply chain issues; fraud costs; information security or compliance expenses or consulting, legal and other professional services fees, including as a result of litigation or internal and regulatory reviews; the level of M&A activity and related expenses; information or cyber security incidents; the payment of civil money penalties, disgorgement, restitution, non-income tax assessments and litigation-related settlements; the performance of Amex Ventures investments; impairments of goodwill or other assets; and the impact of changes in foreign currency exchange rates on costs; the companys tax rate not remaining consistent with current levels, which could be impacted by, among other things, changes in tax laws and regulation, the companys geographic mix of income, unfavorable tax audits and other unanticipated tax items; changes affecting the companys plans regarding the return of capital to shareholders, which will depend on factors such as capital levels and regulatory capital ratios; changes in the stress testing and capital planning process and new guidance from the Federal Reserve; results of operations and financial condition; credit ratings and rating agency considerations; and the economic environment and market conditions in any given period; changes in the substantial and increasing worldwide competition in the payments industry, including competitive pressure that may materially impact the prices charged to merchants that accept American Express cards, the desirability of the companys premium card products, competition for new and existing cobrand relationships, competition from new and non-traditional competitors and the success of marketing, promotion and rewards programs; a failure in or breach of the companys operational or security systems, processes or infrastructure, or those of third parties, including as a result of cyberattacks, which could compromise the confidentiality, integrity, privacy and/or security of data, disrupt the companys operations, reduce the use and acceptance of American Express cards and lead to regulatory scrutiny, litigation, remediation and response costs, and reputational harm; legal and regulatory developments, which could affect the profitability of the companys business activities; limit the companys ability to pursue business opportunities or conduct business in certain jurisdictions; require changes to business practices or alter the companys relationships with Card Members, partners, merchants and other third parties, including its ability to continue certain cobrand relationships in the EU; exert further pressure on the average discount rate and the companys GNS business; result in increased costs related to regulatory oversight, litigation-related settlements, judgments or expenses, restitution to Card Members or the imposition of fines or civil money penalties; materially affect capital or liquidity requirements, results of operations or ability to pay dividends; or result in harm to the American Express brand; and. [12] Early history [ edit] Foreign Associates. American Express (NYSE:AXP) has a recorded net income of $7.51 billion. Total revenues net of interest expense were $6.4 billion, up 21 percent from $5.3 billion a year ago. After extensive research and analysis, Zippia's data science team found the following key financial metrics. Planning for the future: Knowing your net income and how much of it is available after expenses will help you plan for your short- and long-term financial future. Biggest Companies Most Profitable Best Performing Worst Performing 52-Week Highs 52-Week Lows Biggest Daily Gainers Biggest Daily Losers Most Active Today Best Growth Provisions for credit losses were $176 million, compared with a benefit of $6 million a year ago. As a member, you walk on water with them. Our credit metrics also remained strong even as we steadily rebuild loan balances, with delinquencies and write-offs continuing to be low. Provisions for credit losses resulted in a benefit of $126 million, primarily reflecting a portion of the previously mentioned reserve releases and lower net write-offs, compared with a provision expense of $411 million a year ago. Total expenses were $779 million, up 13 percent from $691 million a year ago, driven by higher marketing investments. It plays a large role in entities financial statement analysis. Media Contacts: We continue to attract new, premium customers through our differentiated value propositions, experiences and services. factors beyond the companys control such as a further escalation of the military conflict between Russia and Ukraine, future waves of COVID-19 cases, the severity and contagiousness of new variants, severe weather conditions, natural disasters, power loss, disruptions in telecommunications, terrorism and other catastrophic events, any of which could significantly affect demand for and spending on American Express cards, delinquency rates, loan and receivable balances and other aspects of the companys business and results of operations or disrupt its global network systems and ability to process transactions. Operating expenses were also higher primarily as a result of increased compensation, as well as technology and servicing costs. WebCompare the net income before taxes last 4q of American Express AXP and McDonald's MCD. In general, income is the money you earn on a regular basis. The increase primarily reflected higher customer engagement costs due to a rise in Card Member spending and higher marketing investments to continue building growth momentum. American Express and its main subsidiary, American Express Travel Related Services Company, Inc., are bank holding companies. American Express operates under Credit Services classification in the United States and is traded on New York Stock Exchange. The consolidated effective tax rate was 22.6 percent, down from 25.3 percent a year ago. Adjusted gross income is simply all the money you made for a year minus special adjustments the IRS allows to help lower taxes. Andrew R. Johnson, [emailprotected], +1.212.640.8610, Investors/Analysts Contacts: Global Merchant and Network Services reported first-quarter pretax income of $687 million, compared with $385 million a year ago. How do I Redeem Membership Rewards Points. WebAmerican Express reported $1.57B in Net Income for its fourth fiscal quarter of 2022. Leah M. Gerstner, [emailprotected], +1.212.640.3174 The growth was powered by consumer and small business spending on goods and services, which grew 19% over Q3 2019 on an FX-adjusted basis. No one here is going to know that answer. Consolidated expenses were $8.7 billion, up 29 percent from $6.7 billion a year ago, reflecting higher customer engagement costs. Our customer retention remained at very high levels throughout the quarter, demonstrating the high value that customers place on American Express Membership. View as % YoY growth or as % of revenue. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. 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American Express's revenue is $36.1 Billion - Learn more about American Express's revenue by exploring their annual revenue, historical revenue, quarterly revenue, and revenue per employee. For the full year, the company reported net income of $8.1 billion, or $10.02 per share, compared with net income of $3.1 billion, or $3.77 per share, a year ago. Taxes: While net income is not reported on individual tax forms, there is an important relationship between net income and taxes. WebIn 2017, Forbes named American Express the most valuable brand in global financial services, and 23rd overall, with an estimate brand value of US$24.5 billion. What's the minimum income requirement for American Express Blue Cash Everyday? Why? The quarter primarily reflected growth in Card Member spending, as well as a rise in the average discount rate resulting from the change in the mix of spending driven by increased levels of travel and entertainment spending, compared to the prior year. Total revenues net of interest expense were $6.9 billion, up 27 percent from $5.4 billion a year ago. Total revenues net of interest expense were $6.2 billion, up 27 percent from $4.9 billion a year ago. This presentation contains certain forward-looking statements that are subject to risks and uncertainties and speak only as of the date on which they are made. There are many ways you can earn supplemental income, from your employer or from side gigs, to help achieve your financial goals but take note of the tax implications. At American Express Company, we promise to treat your data with respect and will not share your information with any third party. Popular Screeners Screens. For the full year, the company reported net income of $8.1 billion, or $10.02 per share, compared with net income of $3.1 billion, or $3.77 per share, a year ago. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. With travel activity continuing to pick up, we also had record monthly acquisitions for our Delta Cards in March. Global Commercial Services reported first-quarter pretax income of $804 million, compared with $675 million a year ago. Global Merchant and Network Services reported third-quarter pretax income of $792 million, compared with $513 million a year ago. American Express (NYSE:AXP) has a trailing price-to-earnings ratio of 16.66 and a forward price-to-earnings ratio of 14.58. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress. WebAmerican Express revenue for the twelve months ending December 31, 2022 was $55.625B, a 27.4% increase year-over-year. For the three months ended December 31, American Express reported net income of $US637 million, or 56 US cents per share. Consolidated expenses were $10.3 billion, up 19 percent from $8.7 billion a year ago. Total revenues net of interest expense were $3.5 billion, up 31 percent from $2.7 billion a year ago, primarily reflecting growth in Card Member spending compared to the prior year. The increase primarily reflected higher customer engagement costs due to a rise in Card Member spending, higher marketing investments to continue building growth momentum, and higher usage of travel-related Card Member benefits. American Express Company (NYSE: AXP) today reported fourth-quarter net income of $1.4 billion, or $1.76 per share, compared with net income of $1.7 bi Total revenues net of interest expense were $1.7 billion, up 26 percent from $1.3 billion a year ago, primarily reflecting an increase in network volumes. I applied and was approved, thanks. In addition to the high spending thresholds needed to be invited and maintain your status, there is a cost to join, as well. Ultimate Income & Expense Tracker Regular price $9.95 USD Regular price $39.95 USD Sale price $9.95 USD Unit price / per . We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. American Express' net revenue grew 8% on a year-over-year basis. THE NUMBERS: For the three months ended Dec. 31, net income fell to $637 million, or 56 cents per share. Total expenses were $4.5 billion, up 20 percent from $3.8 billion a year ago, primarily reflecting higher customer engagement costs, which were driven by higher billed business and increased usage of travel-related benefits. American Express Company is a diversified financial services company, offering charge and credit payment card products, and travel-related services world wide. American Express net profit margin was 18% during 2016. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. In the less traditional but growing gig economy, people earn money from multiple part-time, temporary, or freelance positions. Specialization. American Express is paying for its purchase out of its cash holdings, which were over $17 billion as of February 29. THE NUMBERS: For the three months ended Dec. 31, net income fell to $637 million, or 56 cents per share. The decrease primarily reflected discrete tax benefits in the current quarter. The company undertakes no obligation to update or revise any forward-looking statements. WebNet income is one of the most important fundamental items in finance. Provisions for credit losses were $196 million, compared with a benefit of $67 million a year ago. Because its the amount of income you actually get to spend on the things you need and want, from paying the rent or mortgage to your credit cardstatement, buying food, funding your childs college education, saving for retirement little things like that. $2.0 billion. Total expenses were $715 million, up 1 percent from $707 million a year ago. ($ in millions, except per share amounts, and where indicated), Average Diluted Common Shares Outstanding. WebAmerican Express reported $1.57B in Net Income for its fourth fiscal quarter of 2022. The company's adjusted earnings beat Wall Street estimates. That compares with net income of $US1.2 billion, or $US1.01 per share, in the same period last year. $1.3 billion. A replay of the conference call will be available later today at the same website address. factors beyond the companys control such as continued waves of COVID-19 cases, whether and when populations achieve herd immunity, severe weather conditions, natural disasters, power loss, disruptions in telecommunications, terrorism and other catastrophic events, any of which could significantly affect demand for and spending on American Express cards, delinquency rates, loan and receivable balances and other aspects of the companys business and results of operations or disrupt its global network systems and ability to process transactions. Spending by Millennial and Gen Z Card Members grew 38% above Q3 2019 levels on an FX-adjusted basis. The change reflected a reserve build of $203 million, compared with a $223 million reserve release a year ago, as well as higher net write-offs in the current quarter. Revenues were up 29 percent year-over-year, driven by Card Member spending growth of 35 percent globally on an FX-adjusted basis, with volumes reaching a monthly record high in March. WebAmerican Express Co. balance sheet, income statement, cash flow, earnings & estimates, ratio and margins. The decline was primarily driven by net gains on Amex Ventures equity investments in the prior year. 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The forward-looking statements, which address American Express Companys current expectations regarding business and financial performance, among other matters, contain words such as believe, expect, anticipate, intend, plan, aim, will, may, should, could, would, likely and similar expressions. American Express has 63,700 employees, and the revenue per employee ratio is $566,562. American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. New York, NY 10285 Kerri S. Bernstein, [emailprotected], +1.212.640.5574 American Express Co's average earning assets for the quarter that ended in Dec. 2022 Total expenses were $2.6 billion, up 29 percent from $2.0 billion a year ago. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. American Express annual net income for 2022 Were operating from a position of strength, and we see more opportunity ahead to drive sustainable, long-term growth. American Express Company (NYSE: AXP) today reported third-quarter net income of $1.8 billion, or $2.27 per share, compared with net income of $1.1 billion, or $1.30 per share, a year ago. Operating expenses were also higher, primarily reflecting net gains on Amex Ventures equity investments in the prior year and increased compensation costs in the current quarter. Net income is not reported on tax forms, but ensuring that the correct amount of taxes is withheld helps make your net income more accurate. Michelle A. Scianni, Michelle.A.Scianni@aexp.com, +1.212.640.5574, American Express First-Quarter Revenue Increases 29% to $11.7 Billion, Driven by Strong Card Member Spending Globally, AXP_BlueBoxLogo_LARGEscale_RGB_DIGITAL.jpg, Environmental, Social, and Governance reports. An investor conference call will be held at 8:30 a.m. (ET) today to discuss third-quarter results. Live audio and presentation slides for the investor conference call will be available to the general public on the above-mentioned American Express Investor Relations website. Gross income, however, is not what goes in your pocket. American Express Company (NYSE: AXP) today reported first-quarter net income of $2.1 billion, or $2.73 per share, compared with net income of $2.2 bil Revenue net of interest expense fell 20% from a year earlier, American Express said, attributing the drop to less card-member spending and a decline in the average discount rate. Vivian Y. Zhou, [emailprotected], +1.212.640.5574 Live audio and presentation slides for the investor conference call will be available to the general public on the above-mentioned American Express Investor Relations website. So, what does net income mean? Get comparison charts for tons of financial metrics! 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