American Express (NYSE: AXP) is scheduled to report its fiscal Q2 2023 results on Friday, July 21, 2023. We expect American Express to top the consensus estimates of both revenues and earnings. The credit card giant reported mixed results in the last quarter, with revenues beating expectations but earnings missing the mark. It reported net revenues of $14.28 billion – up 22% y-o-y. The revenue growth was driven by improvement in both interest-driven and non-interest income. While the net interest income benefited from higher interest rates and loan growth, the non-interest revenues were up due to an increase in billed business, premium cards portfolio, and foreign exchange-related income. We expect the same trend to continue in the second quarter.American Express Stock To Top The Consensus In Q2
Our forecast indicates that American Express’ valuation is $182 per share, which is 2% above the current market price of close to $178. Our interactive dashboard analysis on American Express’ Earnings Preview has more details.
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