American Express‘The rich card holders are showing some signs of curbing their expenses, and young customers increased versions of transactions in the first quarter, Chief Financial Officer, Chief Financial Officer Christof le calec Told CNBC.
The bill trading on MX card increased by 6%, or 7% when the leap is adjusted to the effect of the year, the company said on Thursday that the collision in spending shows Last year end According to Le Calack, continued in 2025.
Those trends continued in April, CFO said, despite the sharp decline in shares of this month, amid the concerns of the President Donald Trump ‘S tariff policies will cause recession.
Dynamic, which helped Amex top expectations for the first quarter benefit, indicates that the company’s rich customer base can help insulating it with concerns about tariffs and stubborn inflation. At the other end of the credit spectrum, Coordination financialWhich provides store cards for dozens of popular retailers, Wags Recession of a spending.
“Despite the news and environment, there is a lot of stability and strength,” said Calack.
The increase in Amex came from young card holders, in which millennium and general Z members spent 14% more in the quarter. General X and Baby Boomer Cardholders showed more caution, recorded 5% and 1% increase respectively.
Le Kalek said it is difficult to understand whether the card holders were making further purchases due to the Lump Tariff, which gave an artificial boost to buy volume as JP Morgan officials. Said Last week. He said that some small businesses are doing this to build inventory because there are concerns about the cost of increasing duties.
Airline recession
Especially a category assured Le Calack that the trend of expenses could be durable.
The CFO said, “Restaurant costs 8%.” “This is the final discretionary expenditure, it is not something you can bring forward, and so it is really a good indicator of our cardame base and the trust they have.”
If the expenditure from old Americans was a weak area in addition to recession, it was in the airline transaction according to the company’s earnings. presentationAfter climbing 13% in the fourth quarter, the category increased only 3% or 4% when the leap year was adjusted to the year.
But while the airlines, retailers and other corporations have Drawn His earnings on tariff uncertainty were catching the Amex firm.
Le Kalec stated that it maintained its guidance for revenue growth of 8% to 10% and income of $ 15 to $ 15.50 per share this year.
In the company’s presentation, however, it has a new warning pair under its guidance: “Subject to the macroeconomic environment.”
