Why American Express Stock Surged Today
Shares of American Express (NYSE: AXP) climbed 10.5% on Friday after the credit card giant boosted its dividend and provided an upbeat financial forecast for the coming year.
American Express's revenue rose 17% year over year to $14.2 billion in the fourth quarter. The gains were fueled by record spending by card members, which helped to drive the payments leader's total network volume higher by 12%, to $413.3 billion.
"Our performance demonstrates that our strategy is working, and our business is in an even stronger position today than before the pandemic," CEO Stephen Squeri said in a press release. He added:
Source Fool.com
