I Endured the Amex AGM Audio Cast So You Didn't Have To!

Records were smashed, AI got a nod, and shareholders brought some heat! Here’s your bite-sized brief of American Express's big virtual get-together on April 29, 2025.

The Scorecard: Amex's Blockbuster 2024 & Bright 2025 Start

Chairman and CEO Steve Squeri kicked off with a rundown of the company's performance, and it sounds like 2024 was quite the year for Amex.

• Ka-Ching! Records All Around:

  • They raked in record revenues of a cool $66 billion, up 10% (FX adjusted).

  • Net income also hit a record high, soaring over $10 billion, which translates to $14.01 per share (a 25% jump year over year, helped by a sale).

  • Card members were busy, with total billed business hitting a massive $1.6 trillion.

  • Amex welcomed 13 million new proprietary card members in 2024, with strong demand for their premium fee-based goodies.

  • Shareholders got some love too, with $7.9 billion returned in capital last year.

• The "Fab Four" Strategy: Squeri highlighted their ongoing focus on four strategic imperatives: expanding leadership in the premium consumer space, building on their strong position in commercial payments, strengthening their global integrated network, and building on their u…