AXP-AMERICAN EXPRESS CO
American Express Shares Drop Over 4% Despite Beating Earnings Expectations as Revenue Misses Forecasts and 2024 Outlook Warned Lower
Tuesday
22 October, 2024
American Express has experienced a significant drop in shares despite surpassing earnings expectations, primarily due to a revenue miss and a cautious 2024 outlook. With rising credit loss provisions and contrasting market performance, can the company maintain its appeal to investors amidst these challenges?
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Key Takeaways
- Recent earnings showed American Express missed revenue expectations by $0.03 billion.
- The company has revised its 2024 revenue outlook downward.
- Concerns about asset quality arise from higher credit loss provisions and write-offs.
- Stock performance has lagged behind the overall market, indicating potential weaknesses.
- Investors may find American Express less appealing for steady growth opportunities.
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