Omaha, Nebraska 2021-07-25 00:08:02 –
New York, NY: Nearly 50% of Americans have been vaccinated with the Covid vaccine, returning customers to restaurants, shops and entertainment venues. American Express reports a surge in revenue in the second quarter.
An American Express official said spending increased as the quarter progressed, especially among younger customers.
“Cardholder spending accelerated from the previous quarter, surpassing pre-pandemic levels in June,” said Stephen Skeri, chairman and CEO, in a statement. The part is from millennial, Gen Z, and small business customers. ” ..
According to Zacks Investment Research, American Express revenues increased from $ 7.68 billion in the second quarter of 2020 to $ 10.24 billion, surpassing Wall Street’s forecast of $ 9.47 billion.
Meanwhile, American Express shares rose 3.4% before trading on Friday.
In addition, American Express provided 2.4 million new cards in the second quarter.
American Express revenue was $ 2.28 billion, or $ 2.80 per share, for the three months to June 30. During the blockade of Covid a year ago, the company generated $ 257 million, or $ 0.29 per share.
American Express revenue declined during the pandemic as Americans were unable to travel, eat out, or shop.
“Even if the pace of recovery remains uneven in different parts of the world, we are increasingly optimistic that the momentum we have created will continue given the power we see in our core businesses, especially in the United States. I’m looking at it. ” “Based on current trends, we are confident in our ability to stay within the upper bounds of the EPS range expected for 2022 and 2020.”
Restaurants, stores full after Covid, American Express revenues jump Source link Restaurants, stores full after Covid, American Express revenues jump