AXP Q2 2023 Earnings Report — American Express Company Revenue & Financial Results | Market Cap Arena

American Express CompanyAXP

Q2 2023 Earnings

Reported July 24, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2023	Q1 2023	Q2 2022	QoQ Change	YoY Change
Revenue	$16.7B	$15.7B	$13.8B	6.4%	21.0%
Op. Income	$2.7B	$2.2B	$2.5B	26.2%	7.5%
Gross Margin	82.9%	84.2%	93.9%	-1.3pp	-11.0pp
Net Margin	13.0%	11.6%	14.2%	1.4pp	-1.2pp
EPS (Diluted)	$2.89	$2.40	$2.57	20.4%	12.5%
Free Cash Flow	$3.5B	-$738M	$3.8B	580.8%	-6.8%

Revenue Flow

Item	Amount
REVENUE	$16.7B
Cost of Revenue	$2.9B
GROSS PROFIT	$13.9B
R&D Expenses	$0
Selling & Marketing	$1.4B
General & Administrative	$1.9B
SG&A Expenses	$3.3B
Other Expenses	$7.8B
Operating Expenses	$11.1B
Cost & Expenses	$14.0B
OPERATING INCOME	$2.7B
Interest Income	$4.8B
Interest Expense	$1.7B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.7B
Income Tax Expense	$560M
Net Income from Continuing Ops	$2.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$400M
EBIT	$2.7B
EBITDA	$3.1B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$16.7B
Cost of Revenue	$2.9B
GROSS PROFIT	$13.9B
R&D Expenses	$0
Selling & Marketing	$1.4B
General & Administrative	$1.9B
SG&A Expenses	$3.3B
Other Expenses	$7.8B
Operating Expenses	$11.1B
Cost & Expenses	$14.0B
OPERATING INCOME	$2.7B
Interest Income	$4.8B
Interest Expense	$1.7B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.7B
Income Tax Expense	$560M
Net Income from Continuing Ops	$2.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$400M
EBIT	$2.7B
EBITDA	$3.1B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$2.2B
Depreciation & Amortization	$400M
Stock-Based Compensation	$108M
Deferred Income Tax	-$518M
Other Non-Cash Items	$1.3B
Change in Working Capital	$473M
OPERATING CASH FLOW	$3.9B
Capital Expenditure	-$375M
Acquisitions (Net)	$0
Purchases of Investments	-$394M
Sales/Maturities of Investments	$249M
Other Investing Activities	-$7.4B
NET CASH FROM INVESTING	-$7.9B
Net Debt Issuance	$5.6B
Common Stock Repurchased	-$1.0B
Common Dividends Paid	-$462M
Other Financing Activities	$1.9B
NET CASH FROM FINANCING	$6.0B
FREE CASH FLOW	$3.5B
Net Change in Cash	$2.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$42.0B
Short-Term Investments	$4.1B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$46.0B
PP&E (Net)	$5.2B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$179.5B
Tax Assets	$0
Other Non-Current Assets	$14.2B
TOTAL NON-CURRENT ASSETS	$198.9B
TOTAL ASSETS	$244.9B
Account Payables	$12.4B
Short-Term Debt	$1.6B
Deferred Revenue	$0
Other Current Liabilities	$122.8B
TOTAL CURRENT LIABILITIES	$136.7B
Long-Term Debt	$46.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$34.8B
TOTAL NON-CURRENT LIABILITIES	$81.5B
TOTAL LIABILITIES	$218.2B
Common Stock	$148M
Additional Paid-In Capital	$11.5B
Retained Earnings	$18.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$3.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$26.7B
Minority Interest	$0
TOTAL EQUITY	$26.7B
TOTAL LIABILITIES & EQUITY	$244.9B
Total Debt	$48.3B
Net Debt	$6.3B