American Express (AXP) 10-K Summary — Year Ended Dec 31, 2023
American Express is a global payments company offering credit and charge cards. The filing shows revenue growth and positive net income, with strong operating cash flow.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
American Express is a global payments company offering credit and charge cards. The filing shows revenue growth and positive net income, with strong operating cash flow.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$37.2B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$8.4B
Net income reported for the year.
Operating cash flow
$18.6B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $27.7B | n/a |
| Dec 31, 2022 | $34.2B | +23.5% |
| Dec 31, 2023 | $37.2B | +8.8% |
Business overview
American Express operates as a globally integrated payments company, providing credit and charge cards to consumers and businesses worldwide. It has four reportable segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Service. The company is a bank holding company regulated by the Federal Reserve.
Financial performance
Revenue increased over the periods shown. Net income and operating cash flow were reported as positive. The company's financial results reflect its core card and network businesses.
Material risks
As a bank holding company, American Express is subject to supervision and examination by the Federal Reserve, which presents regulatory risk. The filing also includes a risk factors section, though specific details are not provided in the supplied text.
Liquidity and capital
The company generated positive cash from operations and used cash for investing activities, resulting in a net increase in cash. Financing activities also provided cash.
What to watch
Monitor the performance of the four reportable segments in the next filing.