Why Shares of American Express Are Falling Today
Shares of the credit card and payments company American Express (NYSE: AXP) had fallen over 2% as of 1:41 p.m. ET today after management tempered investors' expectations about near-term top-line growth at an investor conference this morning.
American Express CFO Christophe Le Caillec told investors at a conference that expectations for revenue in the first quarter of 2025 are "too high" right now. Wall Street analysts currently expect revenue net of interest expense to come in at close to $17.1 billion, according to data provided by Visible Alpha. Le Caillec attributed lower revenue growth due to there being one less day in the first quarter and a stronger dollar now than in December. Revenue net of interest expense grew 9% in the fourth quarter.
Source Fool.com
