Silas Stein Photo alliance Gety pictures
American Express's The wealthy card holders obtained a larger naval spending again in late last year, the financial manager Christophe Le Kylik CNBC said.
AmeX spending by 8 % on an annual basis in the fourth quarter after slowing the growth rate of 7 % early in the year to 6 % during the second and third quarters, according to the second article. Profits Presentation.
While capturing the end of the year was seen in all sectors of customers and geographical regions, it was especially fed by Millennium Generation and GEN Z users, where transaction sizes jumped by 16 %, an increase of 12 % in the third quarter.
Old groups were more restricted with their cards; Gen X 7 % clients spent in the fourth quarter, while Baby Boomers witnessed that bills are only 4 %.
“We have achieved a very strong growth from Gen Z and Millennials, and to accelerate a percentage point that gives us a lot of optimism for 2025,” said Le Kylik.
He added that the levels of high transactions continued in the first three weeks of this year.
It is said that the younger Americans spend more on experiments instead of goods, and this is reflected in AmeX results, which along with the source of the competing card. Jpmorgan Chase It dominates the market for advanced credit cards.
Travel and entertainment bills increased by 11 % in a quarter, compared to 8 % for good and services. The travel support came from spending on airlines, which increased by 13 %, with the spending on business degree and first -class flights by 19 %, according to Le Caillec.
AmeX shares fell by more than 2 % in the middle of the day on Friday after the company I mentioned The profits and revenues that were almost in line with analysts' expectations. The shares of the New York -based company were to rupture during the past year, as it reached the highest level in 52 weeks on Thursday.
“We encourage us to accelerate the growth of bills because we believe that it will be a major factor in achieving its ambitious goal of the growth of revenues at least 10 %,” William Blair analysts, led by Christopher Kennedy, wrote on Friday in a research note. “We remain the buyers on any withdrawal.”
