Amex Navigates Economic Uncertainties with a Healthy Premium Card Market

In a recent conference call, American Express CEO Stephen Squeri highlighted a noticeable softness in consumer spending on airline and lodging services.

Despite these challenges, Squeri expressed confidence in the robust growth of the premium card market, which he asserted is expanding at a healthy rate. Meanwhile, American Express CFO emphasized the resilience of credit quality in the face of ongoing economic uncertainties.

The CFO also noted that the financial impact of a planned refresh of the Platinum Card could extend up to two years. Furthermore, the company views stablecoins as investment vehicles unlikely to supplant traditional fiat currencies.

(With inputs from agencies.)