American Express (NYSE: AXP) recently reported its 2023 second-quarter financial results, and shares are down more than 5% since the announcement on July 21. The business posted revenue (net of interest expense) of $15.1 billion and diluted earnings per share (EPS) of $2.89, both up 12% from the year-ago period. 

Earnings beat estimates, but the top-line figure missed Wall Street analysts' expectations. And investors seem to be concerned about slowing growth in payment volumes, as well as higher loss reserves. 

After these mixed results, is now the right time to buy this financial stock, which is still up 11% in 2023? Let's take a closer look at what's going on with American Express. 

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Source Fool.com