On July 22, 2022, American Express reported Q2 total revenues net of interest expense were $13.4 billion (an increase of 31% year-over-year) on diluted earnings per share (Diluted EPS) of $2.57.
Summary: American Express Q2 2022 total revenues net of interest expense increased by 31% compared to the same period in 2021 owing to the increased spending by its Card Members on global travel and entertainment. Card Member spending was increased by 30% year-over-year on an FX-adjusted basis. Total Network Volumes were $395 billion, up 25% from the previous year. The bank had a Common Equity Tier 1 (CET1) ratio of 10.3%, remained in the expected range of 10%-11%. The bank had a $410 million provision for credit losses in the quarter, up $1.02 billion from the previous year.
American Express had three reportable operating segments: Global Consumer Services Group (GCSG), Global Commercial Services (GCS), and Global Merchant and Network Services (GMNS).
Guidance: American Express expectations for the full year 2022 -
United States of America
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