Does American Express Have a Millennial Problem?
Though the American Express Company (NYSE: AXP) has fallen on hard times as of late, it has almost nearly dug itself out of the hole it found itself in a couple of years ago when huge co-brand card retail partners, like Costco Wholesale and JetBlue Airways, abandoned AmEx for credit card competitors. In its most recently reported quarter, the company's adjusted revenue increased by a healthy 8% year over year and total loan growth grew an even more robust 11% over the prior year's quarter. Topping this off, American Express's 1.8% net write-off rate is still the best-in-class.
On the back of these improving fundamentals, American Express's stock price has almost returned to its former highs as well. In the past year, the stock has followed its improving fundamentals and has climbed more than 40%, easily outpacing the S&P 500's 16% gains during that same time period.
Source: Fool.com
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