Compared with September, card spending rose 0.3%, the fifth straight monthly increase. https://t.co/1bbIDtGW7Q ...

Core Insights - American Express reported strong growth in card spending, particularly among Generation Z and millennials, with overall card spending increasing by 9% [3][5] - The company launched refreshed U.S. consumer and Business Platinum Cards, which have exceeded initial customer demand and engagement expectations [3][6] - Delinquency rates remained steady at 1.3%, while credit quality improved, with average FICO scores rising by 15 points [4][6] Financial Performance - The annual spend from the consumer and business Platinum Card franchise is approximately $530 billion globally [3] - Retail spending increased by 12%, with restaurant spending up by 9% and premium travel bookings showing strong momentum, particularly front-of-cabin airline tickets, which rose by 14% [5] - The company anticipates full-year revenue growth of 9% to 10% [6] Customer Demographics - Millennials and Gen Z now account for 36% of total spending, matching the share of Gen X, with spending from these cohorts surging by 13% [5] - The average number of transactions per U.S. customer in younger cohorts is about 25% higher than in older cohorts [5] Market Outlook - The CEO expressed optimism about the stability of spending momentum, indicating no immediate signs of a slowdown [7] - Small business spending growth of 4% was noted as encouraging, with strong retail spending expected to continue into the holiday season [8]