AXP Q3 2023 Earnings Report — American Express Company Revenue & Financial Results | Market Cap Arena

American Express CompanyAXP

Q3 2023 Earnings

Reported October 20, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2023	Q2 2023	Q3 2022	QoQ Change	YoY Change
Revenue	$17.2B	$16.7B	$14.3B	2.7%	20.1%
Op. Income	$3.1B	$2.7B	$2.5B	13.4%	26.1%
Gross Margin	82.4%	82.9%	89.0%	-0.5pp	-6.6pp
Net Margin	14.3%	13.0%	13.1%	1.3pp	1.1pp
EPS (Diluted)	$3.30	$2.89	$2.47	14.2%	33.6%
Free Cash Flow	$7.8B	$3.5B	$4.1B	121.1%	92.9%

Revenue Flow

Item	Amount
REVENUE	$17.2B
Cost of Revenue	$3.0B
GROSS PROFIT	$14.1B
R&D Expenses	$0
Selling & Marketing	$1.2B
General & Administrative	$2.0B
SG&A Expenses	$3.3B
Other Expenses	$7.8B
Operating Expenses	$11.0B
Cost & Expenses	$14.1B
OPERATING INCOME	$3.1B
Interest Income	$5.2B
Interest Expense	$1.8B
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.1B
Income Tax Expense	$649M
Net Income from Continuing Ops	$2.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.4B
D&A	$429M
EBIT	$3.1B
EBITDA	$3.5B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$17.2B
Cost of Revenue	$3.0B
GROSS PROFIT	$14.1B
R&D Expenses	$0
Selling & Marketing	$1.2B
General & Administrative	$2.0B
SG&A Expenses	$3.3B
Other Expenses	$7.8B
Operating Expenses	$11.0B
Cost & Expenses	$14.1B
OPERATING INCOME	$3.1B
Interest Income	$5.2B
Interest Expense	$1.8B
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.1B
Income Tax Expense	$649M
Net Income from Continuing Ops	$2.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.4B
D&A	$429M
EBIT	$3.1B
EBITDA	$3.5B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$2.5B
Depreciation & Amortization	$429M
Stock-Based Compensation	$93M
Deferred Income Tax	-$375M
Other Non-Cash Items	$1.4B
Change in Working Capital	$4.3B
OPERATING CASH FLOW	$8.2B
Capital Expenditure	-$401M
Acquisitions (Net)	$0
Purchases of Investments	-$502M
Sales/Maturities of Investments	$423M
Other Investing Activities	-$6.4B
NET CASH FROM INVESTING	-$6.9B
Net Debt Issuance	-$157M
Common Stock Repurchased	-$1.4B
Common Dividends Paid	-$459M
Other Financing Activities	$1.7B
NET CASH FROM FINANCING	-$314M
FREE CASH FLOW	$7.8B
Net Change in Cash	$950M

Balance Sheet

Item	Amount
Cash & Equivalents	$43.8B
Short-Term Investments	$2.8B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$46.6B
PP&E (Net)	$5.1B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$183.8B
Tax Assets	$0
Other Non-Current Assets	$15.1B
TOTAL NON-CURRENT ASSETS	$204.0B
TOTAL ASSETS	$250.6B
Account Payables	$13.2B
Short-Term Debt	$1.6B
Deferred Revenue	$0
Other Current Liabilities	$124.4B
TOTAL CURRENT LIABILITIES	$139.2B
Long-Term Debt	$46.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$37.6B
TOTAL NON-CURRENT LIABILITIES	$84.0B
TOTAL LIABILITIES	$223.3B
Common Stock	$146M
Additional Paid-In Capital	$11.4B
Retained Earnings	$19.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$3.2B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$27.3B
Minority Interest	$0
TOTAL EQUITY	$27.3B
TOTAL LIABILITIES & EQUITY	$250.6B
Total Debt	$48.1B
Net Debt	$4.2B