American Express CFO Sees 25% Higher Transaction Rates Among Millennial And Gen Z Cardholders

American Express (AXP) CFO Christophe Le Caillec announced on Friday that the company was seeing strong engagement from Millennial and Gen Z card members, with the average number of transactions per U.S. customer about 25% higher than older cohorts. 

“Millennials and Gen Z now account for 36% of total spend, making up the same share as Gen X,” Caillec said during a post-earnings call.

He added that overall spend growth continues to be driven by transaction growth, up 10% in the third quarter, a good indicator of engagement from our customer base.

Retail sentiment on American Express improved to ‘extremely bullish’ territory from ‘bullish’ compared to a day ago, with message volumes at ‘high’ levels, according to data from Stocktwits.

American Express stock became the top trending ticker on Stocktwits after the company’s shares rose nearly 5% in early trading. The company forecasts a 9% to 10% increase in 2025 revenue, up from the prior expectation of 8% to 10%.

The firm said it now expects annual earnings per share (EPS) to be between $15.20 and $15.50, compared with the previous forecast of $15 to $15.50.

American Express’ third-quarter revenue came in at $18.43 billion, compared with Wall Street estimates of $18.05 billion, according to data compiled by Fiscal AI. Its quarterly EPS were $4.14, which topped expectations of $3.98.

“We saw record bookings through Amex Travel following the Platinum refresh and the launch of our new all-in-one travel app, which we introduced earlier in September in the U.S.,” said CEO Stephen Squeri.

Caillec said that premium travel and expense bookings saw good momentum, with spending on front-of-cabin airline tickets up 14%. United Airlines also said on Thursday that premium cabins outperformed the main cabin once again.

Shares of American Express have jumped nearly 14% this year and have gained over 22% in the last 12 months.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Also See: Jeff Bezos Reportedly Says People Should Be Thrilled About AI: ‘Don’t See How Anybody Can Be Discouraged Who Is Alive’

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