American Express Q2 2024: Revenue & Receivables Update

Ticker: AXP · Form: 10-Q · Filed: 2024-07-19T00:00:00.000Z

Sentiment: neutral

Topics: earnings, financials, credit-card, receivables

Related Tickers: AXP

TL;DR

**AXP Q2 2024: Credit card & loan portfolios show activity. Revenue & receivables detailed vs. last year.**

AI Summary

American Express Co. reported its Q2 2024 results on July 19, 2024. For the quarter ending June 30, 2024, the company saw significant activity in its credit card and loan portfolios. Key financial metrics related to revenue and receivables were detailed for both the current quarter and the comparable period in 2023.

Why It Matters

This filing provides insight into American Express's financial performance and the health of its lending and merchant services businesses, which are key indicators for the broader consumer spending and financial services sectors.

Risk Assessment

Risk Level: low — This is a routine quarterly filing (10-Q) providing standard financial disclosures.

Key Numbers

2024-06-30 — Reporting Period End (Indicates the end of the fiscal quarter for which financial data is reported.)
2023-06-30 — Prior Year Period End (Used for comparative financial analysis against the current reporting period.)
2024-04-01 — Current Quarter Start (Marks the beginning of the fiscal quarter being reported.)
2023-04-01 — Prior Year Quarter Start (Marks the beginning of the comparable fiscal quarter in the previous year.)

Key Players & Entities

AMERICAN EXPRESS CO (company) — Filer
20240630 (date) — Reporting Period End Date
20240719 (date) — Filing Date
2126402000 (dollar_amount) — Business Phone Number

FAQ

What were the total credit card receivables for American Express as of June 30, 2024?

The filing indicates data for 'axp:CardMemberReceivablesMember' for the period ending 2024-06-30, but the specific dollar amount is not provided in this snippet.

How did credit card member revenue compare between Q2 2024 and Q2 2023?

The filing includes data points for 'us-gaap:CreditCardMember' for both 2024-04-01 to 2024-06-30 and 2023-04-01 to 2023-06-30, suggesting a comparison is available within the full document.

What is the filing date for this 10-Q report?

The 10-Q report for American Express Co. was filed on 20240719.

What is the fiscal year end for American Express?

The fiscal year end for American Express Co. is 1231.

What specific types of revenue are detailed for the quarter ending June 30, 2024?

The filing snippet mentions 'us-gaap:CreditCardMerchantDiscountMember', 'us-gaap:CreditCardMember', 'axp:ProcessedRevenueMember', and 'axp:FinancialServiceOtherMember' for the period.

From the Filing

0000004962-24-000052.txt : 20240719 0000004962-24-000052.hdr.sgml : 20240719 20240719131853 ACCESSION NUMBER: 0000004962-24-000052 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 93 CONFORMED PERIOD OF REPORT: 20240630 FILED AS OF DATE: 20240719 DATE AS OF CHANGE: 20240719 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN EXPRESS CO CENTRAL INDEX KEY: 0000004962 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] ORGANIZATION NAME: 02 Finance IRS NUMBER: 134922250 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-07657 FILM NUMBER: 241127167 BUSINESS ADDRESS: STREET 1: 200 VESEY STREET STREET 2: 50TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10285 BUSINESS PHONE: 2126402000 MAIL ADDRESS: STREET 1: 200 VESEY STREET STREET 2: 50TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10285 10-Q 1 axp-20240630.htm 10-Q axp-20240630 0000004962 --12-31 2024 Q2 false 1.667 1.667 0 0 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure axp:security axp:state 0000004962 2024-01-01 2024-06-30 0000004962 2024-07-16 0000004962 us-gaap:CreditCardMerchantDiscountMember 2024-04-01 2024-06-30 0000004962 us-gaap:CreditCardMerchantDiscountMember 2023-04-01 2023-06-30 0000004962 us-gaap:CreditCardMember 2024-04-01 2024-06-30 0000004962 us-gaap:CreditCardMember 2023-04-01 2023-06-30 0000004962 us-gaap:FinancialServiceOtherMember 2024-04-01 2024-06-30 0000004962 us-gaap:FinancialServiceOtherMember 2023-04-01 2023-06-30 0000004962 axp:ProcessedRevenueMember 2024-04-01 2024-06-30 0000004962 axp:ProcessedRevenueMember 2023-04-01 2023-06-30 0000004962 2024-04-01 2024-06-30 0000004962 2023-04-01 2023-06-30 0000004962 axp:CardMemberReceivablesMember 2024-04-01 2024-06-30 0000004962 axp:CardMemberReceivablesMember 2023-04-01 2023-06-30 0000004962 axp:CardmemberLoansMember 2024-04-01 2024-06-30 0000004962 axp:CardmemberLoansMember 2023-04-01 2023-06-30 0000004962 axp:OtherLoansAndOtherReceivablesMember 2024-04-01 2024-06-30 0000004962 axp:OtherLoansAndOtherReceivablesMember 2023-04-01 2023-06-30 0000004962 us-gaap:CreditCardMerchantDiscountMember 2024-01-01 2024-06-30 0000004962 us-gaap:CreditCardMerchantDiscountMember 2023-01-01 2023-06-30 0000004962 us-gaap:CreditCardMember 2024-01-01 2024-06-30 0000004962 us-gaap:CreditCardMember 2023-01-01 2023-06-30 0000004962 us-gaap:FinancialServiceOtherMember 2024-01-01 2024-06-30 0000004962 us-gaap:FinancialServiceOtherMember 2023-01-01 2023-06-30 0000004962 axp:ProcessedRevenueMember 2024-01-01 2024-06-30 0000004962 axp:ProcessedRevenueMember 2023-01-01 2023-06-30 0000004962 2023-01-01 2023-06-30 0000004962 axp:CardMemberReceivablesMember 2024-01-01 2024-06-30 0000004962 axp:CardMemberReceivablesMember 2023-01-01 2023-06-30 0000004962 axp:CardmemberLoansMember 2024-01-01 2024-06-30 0000004962 axp:CardmemberLoansMember 2023-01-01 2023-06-30 0000004962 axp:OtherLoansAndOtherReceivablesMember 2024-01-01 2024-06-30 0000004962 axp:OtherLoansAndOtherReceivablesMember 2023-01-01 2023-06-30 0000004962 2024-06-30 0000004962 2023-12-31 0000004962 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2024-06-30 0000004962 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2023-12-31 0000004962 axp:CardMemberReceivablesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2024-06-30 0000004962 axp:CardMemberReceivablesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2023-12-31 0000004962 axp:CardMemberReceivablesMember 2024-06-30 0000004962 axp:CardMemberReceivablesMember 2023-12-31 0000004962 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember axp:CardmemberLoansMember 2024-06-30 0000004962 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember axp:CardmemberLoansMember 2023-12-31 0000004962 axp:CardmemberLoansMember 2024-06-30 0000004962 axp:CardmemberLoansMember 2023-12-31 0000004962 axp:OtherLoansMember 2024-06-30 0000004962 axp:OtherLoansMember 2023-12-31 0000004962 2022-12-31 0000004962 2023-06-30 0000004962 2023-01-0