51�Թ�

The jump in profits for AmEx came largely from higher cardmember spending on their accounts as well as more balances collecting interest.

Spending on card accounts slowed as well, with the average cardmember spending about 2% more on their card from a year ago.

AmEx had $126 billion in cardmember loans at the end of 2023, up 17% from last year.

Worldwide cardmember loans were $108 billion last quarter, up 22% from 2021.

Noting the growth in cardmember spending and an expectation that delinquencies will level off this year, AmEx did forecast a full-year profit between $11.00 and $11.40 a share for 2023.