BUZZ-AmEx falls after CFO says Q1 expectations 'too high'
ReutersFeb 10, 2025 6:51 PM
Shares of credit card giant American Express AXP.N fall as much as 3.4%; last down 2.3% at $309.64
Q1 expectations are "too high", says AXP CFO Christophe Le Caillec at UBS Financial Services conference
Investors and analysts expect Q1 revenue growth to be pretty flat sequentially, but it cannot be flat - Le Caillec
AXP expects Q1 revenue growth to be down sequentially due to one less day in the quarter and the impact of a stronger U.S. dollar
Brokerage BTIG says it was a "surprising negative guidance" to Q1 revenue, adding that it is now inclined to look at the low end of AXP's 2025 revenue growth forecast of 8% to 10%
Underperformance in Q1 is also "particularly surprising" versus the strength in Q4 - brokerage
AXP stock jumped 58.4% in 2024
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