1005 ET - Young people are driving American Express's growth. Millennials' spending increased 10% in 2Q, while Gen Z's jumped around 40%, the company says. And they are still keeping up with their payments, with delinquency rates for those two groups nearly 40% better than the industry average for older ages, Amex executives say during an analyst call. The younger generations tend to be very value-conscious and tend to see Amex's credit-card fees as worthwhile for the perks the bank offers, management says. "We're acquiring lots of Gen Zs and lots of millennials with these cards," CEO Stephen Squeri says. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

July 18, 2025 10:05 ET (14:05 GMT)

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