Shares of American Express (NASDAQ:AXP) are trading higher Friday after the company shared warm announcements during an earnings call.
What To Know: The New York City-based bank raised its guidance for the 2025 fiscal year and said its platinum card refresh saw early demand and engagement. It also reported a record third quarter revenue.
American Express’s third-quarter revenue increased 11% to a record $18.4 billion. The increase was primarily driven by card member spending, higher net interest income supported by growth in revolving loan balances, and continued strong card fee growth.
American Express’s earnings per share rose 19% to $4.14. It raised guidance for fiscal year 2025 to revenue growth of 9% to 10% and earnings per share of $15.20 to $15.50. The stock was up more than 5% at last check, according to Benzinga Pro.
"The successful launch of our updated U.S. Consumer and Business Platinum Cards reinforces our
leadership in the premium space,” said CEO Stephen Squeri. “The initial customer demand and engagement exceeded our expectations, with new U.S. Platinum account acquisitions doubling compared to pre-refresh levels.”
AXP Analysis: From a technical perspective, AXP is currently trading well above its 50-day moving average of $323.86, which is approximately 6.6% higher, and significantly above its 200-day moving average of $300.29, representing a 15% premium. These moving averages suggest a strong upward trend, as the stock remains well-supported above these key levels. The relative strength index (RSI) at 45.75 indicates a neutral position, suggesting that while the stock is experiencing upward momentum, it is not yet overbought.
AXP Price Action: American shares are up 7.35% at $346.79 at the time of publication on Friday. They’re trading just 1.1% below their 52-week high and are 6.7% above the 50-day moving average.
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