AMEX expenses collected at the end of the year, thanks to younger card holders

American Express Rico card holders became comfortable more freely spending again at the end of last year, financial director Christophe Le Caillec He told CNBC.

The expenditure on AMEX cards increased 8% year after year in the fourth quarter after decreasing a growth rate from 7% at the beginning of the year to 6% during the second and third quarter, according to the company. earnings presentation.

While the end of the year collection was seen in all segments and geographies of customers, it was especially fed by millennials and users of generation Z, where transaction volumes increased by 16%, compared to 12% in the Third quarter.

The oldest groups were more restricted with their cards; Gen X clients spent 7% more on the fourth quarter, while Baby Boomers saw Billings increased only 4%.

“We had a very strong growth of the Z and millennial generation, and that acceleration of 2 percentage points gives us a lot of optimism for 2025,” Le Caillec said.

The high transaction levels have continued in the first three weeks of this year, he added.

It is said that younger Americans spend more on experiences instead of goods, and that is reflected in the results of AMEX, which together with the rival card issuer JPMorgan Chase Dominate the high -end credit card market.

Travel and entertainment invoices increased 11% in the quarter, compared to 8% for good and services. The impulse on trips came from the expenditure of the airlines, which increased by 13%, with expenses of executive class and first -class air rates, according to Le Caillec.

Amex’s actions fell more than 2% at noon of Friday’s negotiation after the company reported Gains and income that were in line with the expectations of analysts. New York -based company shares have been in a tear during the past year, reaching a maximum of 52 weeks on Thursday.

“We encourage us A research note. “We are still buyers in any setback.”