Spending on American Express cards surged by 8% year over year in the fourth quarter, following a slowdown from 7% to 6% earlier in the year. This uptick was particularly driven by millennials and Gen Z, whose transaction volumes increased by 16%, up from 12% in the third quarter. In contrast, Gen X customers spent 7% more, while baby boomers saw only a 4% rise in billings. The spending spree was not limited to any specific region but was consistent across all customer segments. Travel and entertainment billings rose by 11%, with airline spending up 13%, and business and first-class airfares jumping by 19%. Despite the positive spending trends, AmEx shares dropped over 2% after the company’s earnings and revenue met analysts’ expectations. However, shares had reached a 52-week high just before the report.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
