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Stephanie Link reports that American Express experienced a 7.6 percent year-over-year increase in U.S. loan growth for January, with a rise of 41 basis points compared to the previous month.
Consumer loans grew by 8.7 percent year-over-year, while small and medium businesses saw a growth of 4.3 percent. Additionally, losses improved, declining by 3.3 percent year-over-year and 5.9 percent quarter-over-quarter. Overall, first-quarter loan growth is up 9 percent, exceeding expectations by 60 basis points.
American Express’s robust performance arrives amid a broader environment of financial resilience and shifting consumer trends. Recent patterns in U.S. loan and spending dynamics bear similarities to the strong quarterly results seen in SLB’s third-quarter performance, particularly where robust digital revenues drove EPS surprises, as highlighted in Stephanie Link’s coverage of SLB’s Q3 EPS and revenue beat. Likewise, the uptick in consumer loan growth mirrors positive developments tracked in Starbucks U.S. sales rise, underscoring continued momentum across key sectors and pointing to underlying confidence in both consumer and business markets.