American Express CEO: April's stock market volatility hasn't sent customers into their bunkers

If April's banal marketplace volatility has American Express (AXP) customers down successful the dumps, they aren't showing it successful however they spend.

"Through the archetypal 10 to 12 days, it's [spending] arsenic beardown arsenic it was past quarter, possibly slightly, somewhat stronger, and recognition inactive continues to look truly good," American Express CEO Stephen Squeri told maine by telephone connected Thursday.

Amex reported overmuch amended than expected archetypal 4th net and maintained its afloat twelvemonth guidance.

The study comes arsenic the likes of JP Morgan (JPM) CEO Jamie Dimon warned astir a Trump tariff driven US recession, portion different companies person yanked their guidance owed to uncertainty.

Stocks person whipsawed this period amidst the tariff volatility, calling into question if households with marketplace vulnerability would proceed to walk astatine a steadfast clip. Those connected the little extremity without overmuch marketplace vulnerability could opt to propulsion backmost arsenic they are deed with higher prices soon.

Squeri said it conscionable didn't marque consciousness to yank his guidance arsenic the concern is holding steady.

"It's astir apt casual to propulsion guidance, but what are you going to propulsion if you cognize you're inactive wrong your your guidance range," Squeri added.

Amex shares fell somewhat successful pre-market trading to $248.57.

• Net sales: +7% twelvemonth implicit twelvemonth to $16.97 cardinal vs. estimation of $16.96 billion

• Credit Losses: -8% twelvemonth implicit twelvemonth to $1.2 cardinal vs. estimation for $1.38 billion

• Diluted EPS: +9% twelvemonth implicit twelvemonth to $3.64 vs. estimation of $3.49

• 2025 Net Sales Guidance: +8% to +10%

• 2025 Diluted EPS Guidance: $15.00 to $15.50 vs. estimation for $15.23

• 1Q25 Charge-Off Rate: 2.4% versus 2.3% past year

• 30-Days Past Due Rate: 1.3% versus 1.3% past year