AmEx profits fall 9% as customers fall behind on payments - Breitbart

AmEx profits fall 9% as customers fall behind on paymentsBy KEN SWEETAP Business WriterThe Associated PressNEW YORK

The New York-based company said it earned a profit of $1.57 billion in the quarter, or $2.07 a share, that is down from $1.72 billion, or $2.18 a share, in the same period a year earlier. That is below what analysts had forecasted. AmEx CEO Steve Squeri said in a statement that the company’s credit metrics “remained strong” in the quarter however. Squeri told analysts on a call with investors that the company is seeing few signs of a recession in the short-to-medium term, noting that cardmember spending continues to remain strong.

Booming economy to democrats. Ask Biden.

🙌🏼

Nothing less could be expected from the 'most popular government in history' Let's go Brandon!

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AmEx profits fall 9% as customers fall behind on paymentsAmerican Express saw its fourth-quarter profits fall by 9%, as the credit card giant had to set aside significantly more money to cover potentially bad loans.
Source: wjxt4 - 🏆 246. / 63 Read more »

AmEx profits fall 9% as customers fall behind on paymentsNEW YORK (AP) — American Express saw its fourth-quarter profits fall by 9%, as the credit card giant had to set aside significantly more money to cover potentially bad loans. The company saw charge offs and delinquencies rise, a troubling sign for a company whose customer base is usually well-to-do and extremely creditworthy. They rewarded my increasing FICO score by raising my interest rate. How’s that make sense?
Source: AP - 🏆 728. / 51 Read more »