American Express CEO says that his work is in a great position, because riches Z Z hurts

• America express It is in excellent form The worldview of the global economy remains as a keyboard. CEO Stephen Squeri has exceeded 7.5% of the total calculated work on AmEx cards and was gasped in new customers with a new card growth.

The world economy seems increasingly indefinite, but the CEO America express He says richer customers do good work.

On Thursday, the Financial Services company reported 7.5% annual growth In the first quarter, AMEX cards in total score cards helped 8% to increase the company’s income to $ 5 billion in more than 8% of the year to $ 17 billion.

Managing the results, said that the rich customer spends firmly on the base, CEO Stephen Squari.

“For the first 10-12 days, it is strong as it is as strong as the last quarter, maybe somewhat stronger, slightly stronger and credit continues to look really good,” Yahoo Finance.

Bilegations in restaurants and habitats were strong during the quarter, as the company saw a little cost of a little expenses in the Airlines. Squeri also said that the company “pulled forward” has no effect.

Another BOON for the company, 3.4 million new cards added during the quarter, 60% of this was gen z and millennia, Syma said on Thursday during the call of Syma in the first quarter. Small cardholders spent 14% more in the quarter, while gene x and boomers are 5% and 1% more, CNBC declare.

When Amex traditionally seemed as an elite card of gray hair with gray hair, the brand increasingly hit the gene Z and millennia for the “lifestyle”. In 2023, 75% of the new consumer platinum and consumer gold accounts belonged to these two cohors, Fortune declare.

The company is increasingly catering to young customers via restaurant and hotel perks. Amex, especially the reservation applications, but also noted this spine with the restart of the gold card.

“The gold repardion accelerator, the residence loan and the” restaurant card could be called ‘among the collection of food. “

Despite the forecasting of a recession on the horizon, Squeri, despite the forecast of a recession on the horizon, has repeated the growth of strong growth for the rest of the year and the company’s growth from 8% to 10%.

This story was first displayed Fortune.com

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