American Express Reports Q4 Results Mostly in Line With Estimates

American Express (AXP) shares fell Friday after the financial services firm reported fourth-quarter results mostly in line with analysts’ expectations.

The credit card giant reported quarterly net income of $2.17 billion, or $3.04 per share, on revenue of $17.18 billion. Analysts polled by Visible Alpha had expected profit of $2.17 billion, or $3.05 per share, on revenue of $17.17 billion.

American Express also posted net interest income of $4.04 billion, just below the $4.09 billion analysts had expected.

CEO Says American Express Saw ‘Stronger Spending’ in Holiday Season

“We … saw record levels of annual Card Member spending, record net card fee revenues, and a record 13 million new card acquisitions, and we continued to add millions of merchant locations to our network globally,” CEO Stephen Squeri said, noting the company saw “stronger spending from our consumer and commercial customers during the holiday season.”

American Express projects 2025 revenue growth of 8% to 10% and earnings per share (EPS) of $15.00 to $15.50, while analysts expect revenue growth of 8.2% and EPS of $15.26. The company also said it expects to increase its quarterly dividend to 82 cents per share, up from 70 cents per share previously.

Friday’s report follows a stretch of strong bank earnings that saw the largest financial firms post substantial Q4 revenue and profit gains thanks to a resurgence in Wall Street dealmaking.

American Express shares were down 2.5% to $317.64 shortly after the market opened. They set a record closing high at $325.87 on Thursday and have risen about 75% over the last 12 months.

UPDATE—This article has been updated with the latest share price information.