U.S.-based American Express posted full-year 2022 attributable net income of $7.4 billion (€6.811 billion), down 7 percent from earnings of $7.917 billion (€7.287 billion) in 2021.
As for revenue, it reached $50.68 billion (€46.659 billion), up 15.7 percent compared to revenue of $43.799 billion (€40.324 billion) in the previous year.
In the fourth quarter alone, net profit reached 1,546 million dollars (1,423 million euros), compared to a positive balance of 1,679 million dollars (1,545 million euros) a year earlier, down 8.6 percent year-on-year, according to the company.
Meanwhile, quarterly revenue was $13.149 billion (€12.106 billion), up from revenue of $12.092 billion (€11.133 billion) in 2021.
Despite the increase in annual revenues, the higher increase in expenses, 24 percent in total, to provide services to users, higher bonuses to the latter and increasing salary costs have hurt the profitability of American Express.
«We expect our revenues to grow by 15 percent to 17 percent in 2023,» said Stephen J. Squeri, chairman and CEO of American Express.
Source: (EUROPA PRESS)
