American Express announced impressive net sales of $11.74 billion and earnings per share of $2.73 for the first quarter of 2021, reflecting a 29% revenue increase year-over-year. The results surpassed Wall Street expectations by 12.3%, driven by a resurgence in travel and entertainment spending by U.S. consumers. Despite a 34% rise in costs for rewards and perks, the company reaffirmed its revenue growth outlook of 18-20% and maintained a resilient cash position of $28 billion.
“American Express · reported net sales · $11.74 billion · true”
“Travel-and-entertainment spending by U.S. consumers · has recovered for · card providers like American Express · more than”
“American Express Co. AXP · reported · first-quarter 2021 earnings · $2.73 per share”
“American Express Co. AXP · beat · the Zacks Consensus Estimate · 12.3%”
“American Express · benefited · from better volumes · in the quarter under review”
“American Express · reaffirmed · guidance of revenue growth · 18-20%”
“American Express · exited · the first quarter with cash & cash equivalents · $28 billion”
“First-quarter revenue · rises · 29%”
“American Express AXP · beat expectations on its bottom line · by 12% · with earnings of $2.73 per share”
“American Express AXP · topped estimates · by +0.43% · with revenues of $11.74 billion”
“American Express AXP · beat expectations on its bottom line by · 12% · earnings of $2.73 per share”
“American Express AXP · topped estimates by · +0.43% · Revenues of $11.74 billion”
