American Express(US:AXP)2025-04-17 15:24Financial Performance - Total revenues net of interest expense reached $16.967 billion, a 7% increase compared to Q1'24, or an 8% increase on an FX-adjusted basis[5] - Net income was $2.584 billion, up 6% year-over-year[5] - Diluted EPS increased by 9% to $3.64[5] Billed Business - Total billed business grew by 6% on an FX-adjusted basis[7] - U.S Consumer Services billed business increased by 7% year-over-year, with Millennials and Gen-Z contributing 14% growth[10] - International Card Services billed business saw a 13% increase, driven by a 12% rise in International Consumer and a 13% increase in International SME & Large Corp[14] Revenue Streams - Discount revenue increased by 4% to $8.743 billion[25] - Net card fees grew significantly by 18% to $2.333 billion[25] - Net interest income increased by 11% to $4.169 billion[25] Expenses and Credit Metrics - Total expenses increased by 10% to $12.487 billion, with variable customer engagement expenses accounting for 43% of revenue[40] - The net write-off rate for Card Member Loans was 2.4% in Q1'25[55] - Total provision decreased by 9% versus Q1'24, primarily driven by a net reserve release in the current period versus a net reserve build in the prior period, partially offset by higher net write-offs[67] Loans and Receivables - Worldwide total loans and card member receivables reached $207 billion, a 7% increase year-over-year on an FX-adjusted basis[16] Guidance - The company projects revenue growth of 8% - 10% for 2025[46] - EPS guidance for 2025 is set at $15.00 - $15.50, representing an adjusted EPS growth of 12% - 16%[46]