American Express has reported a remarkable 121% year-over-year increase in travel and entertainment spending, indicating a full recovery beyond pre-pandemic levels. The company's Q1 earnings per share reached $2.73, surpassing market expectations, as revenue surged 29.5% to $11.74 billion. Additionally, American Express announced a partnership with Billtrust to enhance B2B payment automation, improving the acceptance of virtual cards for suppliers, and declared a 20.9% increase in its quarterly dividend to $0.52 per share.
“American Express · reported · travel spend is outpacing pre-pandemic levels · true”
“Amex · reported · that travel and entertainment spending climbed 121% year-over-year · true”
“American Express cards · offer · statement credit for incidental airline fees · true”
“American Express Co. · announced · partnership with Billtrust · Thursday”
“American Express Co. · will work with · Billtrust · automation related to business-to-business (B2B) payments”
“American Express Co. · sees · the partnership · as a way to enable suppliers to streamline acceptance of American Express virtual cards”
“American Express Company · announced a collaboration with · Billtrust · true”
“American Express · reported · travel spend is outpacing pre-pandemic levels”
“American Express · said · 86% of consumers expect to spend more or the same on travel in 2022”
“American Express · reported · travel and entertainment spending climbed 121% year-over-year”
“Warren Buffett · owns · American Express · since the 1960s”
“American Express · is · the third-largest holding in Berkshire's equities portfolio · true”
