Fri Jan 24 12:30:00 UTC 2025: ## Amex Profits Surge 12% on Holiday Spending Spree
**New York, NY** – American Express Co. reported a 12% jump in profits for the fourth quarter, exceeding analyst expectations driven by robust holiday spending among its affluent clientele. The company attributed the increase to a significant rise in billed business – the total transaction volume on its credit cards and other products – which climbed 8% to a staggering $408.4 billion.
While the company’s net income of $2.17 billion ($3.04 per share) slightly missed analysts’ estimates, the strong growth in transaction volume underscores the resilience of high-end consumer spending. This positive performance highlights American Express’s success in connecting with its target market and capitalizing on a period of increased consumer activity. Bloomberg, in its reporting, emphasizes the company’s strategic position within a dynamic global network of information and insights.
First Piper 