American Express'Wealthy card holders show only a few signs that they contain their expenses, and younger customers have made the growth of the transaction volume in the first quarter, Chief Financial Officer Christophe Le Caillec told CNBC.
The company rose by 6% or 7% in the reporting period, if they had adapted the effects of the leap year, the company reported on Thursday, according to Le Caillec, according to Le Caillec, according to Le Caillec in 2025.
These trends have continued until April, the CFO said, despite strong stocks of stocks this month, since President Donald Trump's collective bargaining policy will lead to a recession.
The dynamics that AMEX-TOP expectations for profit prompted in the first quarter shows that the wealthier customer base of the company can help isolate them from concerns about tariffs and stubborn inflation. At the other end of the loan spectrum, Synchronicity financiallyThe offer of shop cards for dozens of popular retailers has warned against slowing down expenses.
“Despite the news and the environment, there is a lot of stability and strength,” said Le Caillec.
The growth in Amex came from younger cardholders, with the millennial and gene Z members of 14% more expenses in the quarter. The card holders of Gen X and Baby Boomer showed more caution and registered 5% or 1% increases.
Le Caillec said it was difficult to see whether card holders are driving purchases due to the impending tariffs, which created an artificial thrust to buy volumes, as the JPmorgan executives said last week. Some small companies may do this to create inventory, since concerns about the increasing costs for the costs, he added.
Airline slump
In particular, a category gave Le Caillec trust that the expenditure trends may be permanent.
“The restaurant's expenses rose by 8%,” said the CFO. “This is the ultimate scope for discretion. It is not something you can put up, and therefore it is really a good indicator of the strength of our card member base and the trust you have.”
If there was a weak area in addition to the slowdown of the expenditure of older Americans, it was in airlines, according to the company's profit presentation. The category only grew 3% or 4% if it had adjusted the leap year after it rose by 13% in the fourth quarter.
But while airlines, retailers and other companies pulled their profit guidelines for the uncertainty of the tariff, Amex was the company.
This year it had retained its guidelines for sales growth of 8% to 10% and a profit of $ 15.50 per share, said Le Caillec.
In the presentation of the company, however, it added a new restriction to its instructions: “Subject to the macroeconomic environment.”
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