The credit card and payment solutions company American Express closed the third quarter of 2024 with an attributable net profit of 2,278 million euros, which is equivalent to an advance of 2.3% compared to the result obtained in the same period of the previous year.
Total net interest income amounted to 15,319 million euros, 8.2% more, which includes an increase in 16.4% in net interest, up to 3,689 million euros. Income from items other than interest margin reached 11,630 million euros, 5.8% more.
However, American Express raised provisions for credit default risk in the third quarter to 1,249 million euros, 10% more.
Already in the accumulated of the first nine months, the company registered profits of 7,234 million euros, 23.8% above of the result recorded until September of last year.
American Express’ revenue figure was 34,315 million euros, 5.9% more, while provisions for credit risk increased 11.7%, up to 3,585 million euros.
“Based on our results to date […] we raise our forecasts earnings per share for the entire year at 12.66 and 12.94 euros compared to the previous 12.25 and 12.71 euros,” explained the president and CEO of American Express, Stephen Squeri, who described the quarterly performance as “solid.”
In addition, the manager has refined the income estimates for 2024 and now predicts that these will grow by 9% in 2024, within the range of 9% to 11% already communicated.
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