Welcome to our dedicated page for American Express news (Ticker: AXP), a resource for investors and traders seeking the latest updates and insights on American Express stock.
American Express Company reports news about a global payments and premium lifestyle brand that issues charge and credit card products, operates a merchant payment network, and serves consumers, small and mid-sized businesses, large corporations, and merchants. Company updates often cover earnings releases, Card Member spending and credit performance, dividend actions on common and preferred shares, investor presentations, and capital allocation.
American Express news also includes product and network developments tied to commercial cards, co-brand card programs, Membership experiences, merchant relationships, Resy dining initiatives, small-business education, and brand partnerships. These announcements reflect the company's model of combining payments, lending, merchant acceptance, rewards, and service experiences across its global network.
American Express Company (NYSE: AXP) reported a strong second-quarter net income of $2.3 billion, translating to $2.80 per share, a significant increase from $257 million or $0.29 per share last year. Total revenues net of interest expense rose 33% to $10.2 billion, reflecting robust Card Member spending. The company benefited from $866 million in credit reserve releases, predominantly due to solid credit performance. Despite a 44% increase in expenses to $7.9 billion, optimism remains high for continued growth in the core U.S. market.
American Express Company (NYSE: AXP) has announced dividends for its Series B and C Preferred Shares. The 5.200% Fixed Rate / Floating Rate Noncumulative Preferred Shares, Series B will pay a quarterly dividend of $9,059.25 per share on August 16, 2021, for shareholders of record as of August 1, 2021. The 4.900% Fixed Rate / Floating Rate Noncumulative Preferred Shares, Series C will have a quarterly dividend of $8,698.80 per share, payable on September 15, 2021, to shareholders of record on September 1, 2021.
American Express (NYSE: AXP) announced additional $25,000 enhancement grants for 25 Black-owned small businesses from its Coalition to Back Black Businesses program. Approximately 60% of recipients are Black women-owned. Established to empower Black businesses, the Coalition has committed $10 million, distributing over 600 grants across 33 states since its inception in 2020. With the latest funding, businesses aim to improve online presence, relocate, and enhance marketing. Applications for the 2021 grants will open this September, expanding support for U.S. Black-owned small businesses.
American Express has launched an enhanced U.S. Consumer Platinum Card, offering added value with expanded travel, dining, wellness, retail, and entertainment benefits, totaling over $1,400 annually for Card Members. Key features include a $200 hotel credit with Amex Travel, a $179 CLEAR membership credit, and enhanced airport lounge access with over 1,300 lounges worldwide. Additionally, the card now includes up to $240 in digital entertainment credits, a $300 Equinox fitness credit, and exclusive dining experiences through Resy. The annual fee is set at $695, effective for renewals from January 1, 2022.
American Express (AXP) has launched its "Let’s Go Shop Small" campaign with a $100 million investment aimed at supporting small businesses across the globe. This initiative is part of a broader effort to bolster the recovery of local enterprises post-pandemic. The campaign also features partnerships with Pinterest to promote digital shopping for small businesses. According to a new study, 47% of small business owners are worried about profits during summer, but shopping small could potentially inject $27 billion into the economy.
American Express (AXP) will host a live audio webcast of its earnings conference call on July 23, 2021, at 8:30 a.m. ET, to discuss its second quarter 2021 financial results. Financial results and presentation materials will be available on its Investor Relations website at approximately 7 a.m. ET prior to the call. An audio replay will follow the conference.
For more details, visit American Express Investor Relations.
American Express is reopening the Centurion Lounge at New York's LaGuardia Airport (LGA), doubling its size to 10,000 square feet in the newly constructed Terminal B. The lounge features a study space with books curated by McNally Jackson, a locally inspired menu by chef Cédric Vongerichten, and design elements reflecting New York's culture. This facility is the second in NYC, enhancing the travel experience for eligible card members. Further expansions are planned in major cities including London and Washington, D.C.
Tenacity Venture Capital has launched its inaugural fund to invest in transformative technology companies during the formation, pre-seed, and seed stages. Led by entrepreneur and investor Ben Narasin, the fund has secured initial commitments from NEA and prominent investors. Narasin, previously with NEA, has a notable track record including investments in Lending Club and Kabbage. The fund aims to invest in 5 to 10 companies annually across sectors like AI, fintech, and robotics, emphasizing high conviction and thorough due diligence.
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American Express (NYSE: AXP) has announced its inaugural Membership Week, scheduled for June 14-18, featuring special offers and experiences for U.S. Consumer and Small Business Card Members. The event aims to enhance engagement with members through unique activities across travel, dining, retail, wellness, and entertainment sectors. Highlights include a virtual performance by SZA, exclusive dining classes, wellness sessions, and a travel-inspired capsule collection. The initiative is designed to celebrate members’ loyalty and trust in American Express.