American Express: What Recession?

By the looks of American Express' (NYSE: AXP) fourth-quarter results, you would never know that many people are speculating that the U.S. is on the brink of a recession. The company's revenue, net of interest expense, soared 17% year over year in Q4, and 25% for the full year of 2022. Even more, American Express said it expects double-digit revenue growth in 2023. The integrated payments and credit card company is firing on all cylinders as it benefits from a resilient customer base.

But it's not just the company's financial performance that seems to be skipping over recession worries. Management doesn't seem concerned either. "We aren't seeing recessionary signals," said American Express CEO Stephen Squeri to Yahoo! Finance anchor and editor-at-large Brian Sozzi following the company's earnings release.

Here's a look at the company's impressive growth and management's optimistic expectations in the middle of a challenging macroeconomic environment.

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Source Fool.com