American Express reported strong Q2 2024 results with net income rising 39% to $3.0 billion and EPS increasing 44% to $4.15, including a $0.66 gain from the Accertify sale. Excluding the transaction gain, adjusted EPS grew 21% to $3.49. Revenue reached a record $16.3 billion, up 8% (9% FX-adjusted), driven by higher net interest income, increased card member spending, and strong card fee growth.The company raised its full-year 2024 EPS guidance to $13.30-$13.80 from $12.65-$13.15 previously, while maintaining revenue growth guidance of 9-11%. Management plans to increase marketing investments by approximately 15% over last year without using the transaction gain. Credit performance remained best-in-class, with provisions for credit losses at $1.3 billion compared to $1.2 billion a year ago.Since end-2021, American Express has significantly expanded its business scale, growing revenues by nearly 50% and Card Member spending by almost 40%, while adding around 23 million new cards and over 30 million merchant locations. The company's consolidated expenses rose 1% to $11.3 billion, primarily due to higher customer engagement costs offset by lower operating expenses from the Accertify sale gain.

American Express reported strong Q2 2024 results with net income rising 39% to $3.0 billion and EPS increasing 44% to $4.15, including a $0.66 gain from the Accertify sale. Excluding the transaction gain, adjusted EPS grew 21% to $3.49. Revenue reached a record $16.3 billion, up 8% (9% FX-adjusted), driven by higher net interest income, increased card member spending, and strong card fee growth.The company raised its full-year 2024 EPS guidance to $13.30-$13.80 from $12.65-$13.15 previously, while maintaining revenue growth guidance of 9-11%. Management plans to increase marketing investments by approximately 15% over last year without using the transaction gain. Credit performance remained best-in-class, with provisions for credit losses at $1.3 billion compared to $1.2 billion a year ago.Since end-2021, American Express has significantly expanded its business scale, growing revenues by nearly 50% and Card Member spending by almost 40%, while adding around 23 million new cards and over 30 million merchant locations. The company's consolidated expenses rose 1% to $11.3 billion, primarily due to higher customer engagement costs offset by lower operating expenses from the Accertify sale gain.