Hi everyone!

I’ve been building this portfolio for almost a year now, following a long-term growth approach rather than chasing short-term explosive gains. So far, it’s up +5.30%. I’ve focused more on the italian and american markets with stoks such as $ISP (-1,39%)
$KO (-1,09%)
$BRK.B (-1,93%) that make more than half my portfolio. What do you think about my strategy and approach?

$VOW3 (+0,72%)
$PLTR (-2,66%)
$FCT (-1,05%)
$LDO (-0,25%)
$RHM (+1,29%)
$INTC (-1,19%)
$CPR (+0,08%)
$AXP (-1,69%)
$BMPS (+0,66%)
$FBK (-0,71%)
$G (-0,54%)
$GS (-1,94%)
$MCD (-1,68%)
$SL (+2,35%)
$ENI (-2,2%)
$BBAI (+0,92%)
$PRY (+0,36%)

$AXP (-1,69%)

🔹 Revenue: $17.86B (Est. $17.70B) 🟢; +9% YoY

🔹 Adj EPS: $4.08 (Est. $3.87) 🟢; +17% YoY*

🔹 Card Member Spending: $416.3B; +7% YoY – All-time quarterly high

FY25 Guidance (Reaffirmed)

🔹 EPS: $15.00 – $15.50 (Est. $15.22) 🟢

🔹 Revenue Growth: 8–10%

Segment & Operating Highlights

🔹 Billed Business (FX-adjusted): $390.7B; UP +7% YoY

🔹 Consolidated Provisions for Credit Losses: $1.4B (vs. $1.3B YoY); net write-off rate: 2.0%

🔹 Operating Expenses: $12.9B; UP +14% YoY

🔹 Effective Tax Rate: 18.7% (DOWN from 20.4% YoY)

🔹 Average Diluted Shares: 699M (DOWN -3% YoY)

🔹 Net Income: $2.89B; DOWN -4% YoY

Strategic & Product Updates

🔸 Card Member spending at all-time high; demand for premium products remains strong

🔸 U.S. Consumer & Business Platinum Card refresh set for Fall 2025

🔸 Announced launch of Coinbase One Card on AXP network

🔸 Ranked #1 in J.D. Power for both Mobile App & Website Customer Satisfaction

🔸 Ranked #4 on 2025 “Best Companies to Work For” in the U.S.

CEO Commentary

🔸 “We delivered record revenue and strong EPS, supported by high Card Member engagement and premium demand.”

🔸 “Our differentiated Membership model and proven product refresh strategy give us confidence in long-term growth.”

$AXP (-1,69%)

🔹 EPS: $3.64 (Est. $3.48) 🟢; UP +9% YoY

🔹 Revenue: $17.00B (Est. $17.00B) 🟡; UP +7% YoY

🔹 Billed Business: $387.4B; UP +6% YoY

🔹 Net Write-off Rate: 2.1% (Flat YoY)

FY Guidance (Maintained, subject to macro environment):

🔹 Revenue Growth: 8% to 10%

🔹 EPS: $15.00 to $15.50

Key Operational Highlights:

🔸 Strong Card Member spending growth at 6% YoY (+7% excl. leap year impact)

🔸 Revenue increase driven by higher net interest income, growth in revolving loan balances, increased spending, and robust card fee growth

🔸 Modest net reserve release (vs. prior-year reserve build), partially offset by higher net write-offs

🔹 Provisions for Credit Losses: $1.2B (DOWN from $1.3B YoY)

🔸 Operating expenses rose moderately; marketing expenses flat YoY

🔹 Net Income: $2.58B; UP +6% YoY

🔹 Consolidated Expenses: $12.5B; UP +10% YoY (driven by higher variable customer engagement and travel-related benefit costs)

🔹 Effective Tax Rate: 22.4% (Prev. 22.5% YoY)

CEO Stephen J. Squeri’s Commentary:

🔸 "Strong Q1 performance reflects robust Card Member spending and premium customer base strength. Given steady spend and credit trends amid the current economic outlook, maintaining FY guidance, subject to macroeconomic conditions."

🔸 "Committed to disciplined expense management and strategic business investment."

$AXP (-1,69%)

Despite a big negative hit this year, specially when compared to VISA and Mastercard, AMEX is a great company. They do have a good business which is what really matters when you expect value return.