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AmEx Soars on Premium Card Growth | Texas News
American Express just smashed Q2 earnings with an 8% profit surge to $3.11 billion, fueled by higher card spending, improved payment performance, and a flood of new premium cardholders. Their top-tier customers are spending big—averaging $6,759 per person—and paying it off. But to keep up with rivals like Chase and Capital One, AmEx is splashing cash on marketing and tech, including AI, pushing expenses up 12%. Despite that, they’re raising their annual revenue forecast while holding profit expectations steady. The strategy’s working: they added 3 million new customers in Q2, three-quarters…
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