- American Express (AXP) experienced a 3% decline following the release of its second-quarter results. While the earnings per share exceeded expectations, the company's revenue for the previous quarter fell short of analysts' projections.
- Despite the revenue miss, American Express achieved an all-time high in sales, with $15.1 billion, shares were still 15% higher for the year so far and cardmember spending increased by 8% to $426.6 billion.
Why it matters
While American Express posted strong revenue and profit figures, the lower-than-expected revenue and slowdown in network volumes growth might raise concerns among investors about the company's future performance.