Monday, January 27, 2025 American Express reports remarkable growth with a 15 percent surge in Q4 international commercial spending, driven by robust travel and entertainment sectors. American Express experienced a significant 15% year-over-year increase in fourth-quarter spending by its international commercial customers, marking a key driver of the company’s growth as 2024 came to a close. This surge in Q4 spending primarily came from Amex’s large corporate and SME clients outside the U.
S., which included a 14% annual rise in total international travel and entertainment (T&E) expenditures. Notably, this T&E figure also factored in consumer spending.
The international segment significantly outperformed the U.S., where commercial customer spending grew by 4% year-on-year in Q4, accompanied by a 5% rise in T&E-related sales.
Overall, Amex’s total revenue for the fourth quarter climbed 9% year-on-year to reach $17.2 billion, while the company’s net income increased by 12% to $2.2 billion.
For the entirety of 2024, Amex recorded a 21% rise in net income, reaching $10.1 billion compared to the previous year..