Goldman Sachs analyst Ryan M. Nash maintained American Express Co AXP with a Buy and raised the price target from $263 to $270.

Stephen Biggar, Argus Research director of financial institutions research, joins 'Closing Bell' to discuss American Express' second quarter earnings report.

AmEx (AXP) continues to anticipate revenues to increase between 9% and 11% in 2024 from the 2023 level of $60.5 billion.

The Investment Committee give you their top stocks to watch for the second half.

American Express Company (NYSE:AXP ) Q2 2024 Earnings Conference Call July 19, 2024 8:30 AM ET Company Participants Kartik Ramachandran - Head of Investor Relations Stephen Squeri - Chairman and Chief Executive Officer Christophe Le Caillec - Chief Financial Officer Conference Call Participants Ryan Nash - Goldman Sachs Donald Fandetti - Wells Fargo Sanjay Sakhrani - KBW Craig Maurer - FT Partners Richard Shane - JPMorgan Jeffrey Adelson - Morgan Stanley Mark DeVries - Deutsche Bank Cristopher Kennedy - William Blair Terry Ma - Barclays Saul Martinez - HSBC Moshe Orenbuch - TD Cowen Mihir Bhatia - Bank of America Operator Ladies and gentlemen, thank you for standing by. Welcome to the American Express Q2 2024 Earnings Call.

Now that the new earnings season has kicked off, the financial sector comes out swinging first, giving investors insights into what is happening underneath the hood of the economy, both the corporate and the commercial economy. This week, commercial banks like Bank of America Co. NYSE: BAC and J.P.

American Express earnings released on Friday (July 19) show that consumers continue to spend on experiences — particularly on dining out, and that momentum belongs to the younger generations who are using their cards more often. Spending by millennial and Gen Z customers was up 13% year over year, management said.

While the top- and bottom-line numbers for American Express (AXP) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

American Express (AXP) reported larger profits than analysts had expected for the second quarter Friday, despite revenue and net interest income (NII) that fell short of estimates.

American Express Company (NYSE:AXP, ETR:AEC1) shares traded lower before Friday's opening bell after the credit card issuer's second quarter revenue missed expectations, overshadowing a profit beat. Revenue was a quarterly record of $16.3 billion, short of the $16.59 billion expected by Street analysts.

American Express (AXP) came out with quarterly earnings of $3.49 per share, beating the Zacks Consensus Estimate of $3.22 per share. This compares to earnings of $2.89 per share a year ago.

American Express Co. said it topped $2 billion in quarterly revenue from card fees for the first time in the second quarter, as it booked its 24th quarter in a row of of double-digit growth from such fees.