On July 24, American Express declined 5.31% in regular trading, trading at $322.45/share, with turnover of $186 million. The stock came under pressure following its second-quarter earnings release before the market open.

American Express reported Q2 diluted EPS of $4.53, exceeding the consensus estimate of $4.40 and rising 11% year-over-year. However, total net revenue of $19.637 billion, up 10% year-over-year, fell slightly short of the $19.69 billion analyst expectation. Net income reached $3.11 billion, an 8% increase from the prior year. Card member spending grew 9% on a currency-adjusted basis to $455.8 billion, marking the highest growth rate in three years. Credit loss provisions declined to $1.1 billion from $1.4 billion a year ago.

The company raised its full-year revenue growth guidance to 10%, up from a prior range of 9%-10%, while maintaining EPS guidance of $17.30 to $17.90. Despite the earnings beat and improved outlook, the market reacted negatively to the revenue shortfall, with analysts flagging concerns about whether high-end consumer spending momentum may be peaking.

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