American Express (AXP) CEO Stephen Squeri says the company’s spending is holding steady despite April’s stock market volatility. In the first quarter, Amex reported better-than-expected earnings and maintained its full-year guidance. This contrasts with warnings from JPMorgan CEO Jamie Dimon about a potential US recession due to Trump tariffs.
Squeri attributes the stability to the company’s business model, saying it doesn’t make sense to adjust guidance when results are within range. Amex stock fell slightly in premarket trading to $248.57 per share. The company’s financials show strong net sales growth (+7% year over year) and credit losses decreasing (-8% year over year).
Notably, Amex reiterated its 2025 guidance, with expected net sales growth of +8% to +10%. This suggests the company remains confident in its ability to maintain steady performance despite market uncertainty.
Source: https://finance.yahoo.com/news/american-express-ceo-aprils-stock-market-volatility-hasnt-sent-customers-into-their-bunkers-122606716.html