American Express reports double-digit profit growth

American Express (US:AXP) achieved record revenue last year, as customers increased their spending and paid more interest on their debts.

The credit card giant reported revenue of $65.9bn (£52.73) for 2024, up 9 per cent on 2023. Net income jumped by over a fifth to $10.1bn in the same period, allowing the group to boost its dividend. The fourth quarter was particularly strong, as both consumer and commercial customers splashed out during the holiday season.