Record-Breaking Revenue and Growth
American Express reported revenues of $17.9 billion, a 9% increase year over year. Earnings per share were $4.08, up 17% excluding the previous year's gain from the sale of the certified.
Low Stress Capital Buffer
American Express's stress capital buffer requirement was set at the lowest permissible level of 2.5%, demonstrating low projected credit card loss and high profitability rates under the Fed stress test.
Strong Net Card Fee Growth
Net card fees reached record levels, up 20%. The line has more than doubled since 2019, driven by focus on premium products.
Positive Credit Metrics
Q2 delinquency and write-off rates remained low with delinquency rates flat to Q1 while write-offs rates declined.
Robust International Growth
The international business continued to grow in double digits, up 12% FX adjusted in the quarter.