The major credit card network operators can sometimes provide us with interesting insights into broader parts of the economy.
Here’s 8 excerpts and a few slides from Friday’s $AXP Q3 earnings call that stood out to us 👇
1. Spending is at near ATHs:
Here’s 8 excerpts and a few slides from Friday’s $AXP Q3 earnings call that stood out to us 👇
1. Spending is at near ATHs:
2. Growth by Customer Type:
3. Travel spending already exceeds pre-pandemic levels:
4. Write-off and delinquency rates remain healthy:
Impressive chart.
5. Two decades of $AXP Network Volumes:
5. Two decades of $AXP Network Volumes:
6. Every Amex card type has more than doubled its member base since before the pandemic:
7. “The spending speaks for itself. […] Just look at some of these numbers.”:
![7. “The spending speaks for itself. […] Just look at some of these numbers.”: https://t.co/LwnI8mNEP...](https://pbs.twimg.com/media/FfskfmPXEAElh_R.jpg)
8. This is probably true, but it definitely says something about the U.S. economy..?
“There is no correlation in our history of that.”
9. Amex spending can not tell you what the stock market will do, according to Squeri:
9. Amex spending can not tell you what the stock market will do, according to Squeri:
This was surprising.
10. Millennials and Gen Z accounts for 60% of $AXP's new card acquisitions:
10. Millennials and Gen Z accounts for 60% of $AXP's new card acquisitions:
This $AXP thread might be interesting to read as a precursor to $V's and $MA's upcoming earnings releases 💳
Tagging some people who might enjoy it: @JerryCap @PythiaR @IntrinsicInv @ToddWenning @bluff_capital @BradoCapital @long_equity @xiscan1 @Invesquotes @ValueMastering
Tagging some people who might enjoy it: @JerryCap @PythiaR @IntrinsicInv @ToddWenning @bluff_capital @BradoCapital @long_equity @xiscan1 @Invesquotes @ValueMastering
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