American Express Reports Strong Earnings Despite Stock Drop Amid Concerns Over New Card Growth and Marketing Spend
American Express reported double-digit revenue and profit growth, driven by strong spending and annual fees, but its stock fell over 4% due to concerns about declining new U.S. card additions and rising marketing costs. The company's CEO stated that cardholders are not affected by the Iran War, but investors remain cautious about potential inflation and economic slowdown.
Tickers: $AXP
Topics: CEO statement earnings market sentiment revenue growth stock price movement