American Express reports EPS up 39% to $3.33 for the first quarter of 2024, on revenues up 11% to $15.8 billion, 'reflecting the positive trends seen in its business over the past few years'.

The payment solutions group notes that total cardholder spending rose 7% excluding currency effects, including increases of 8% in the US and 13% internationally excluding currency effects.

Also pointing to a sequential acceleration in new card acquisitions to 3.4 million in the quarter, American Express continues to target EPS of $12.65 to $13.15 and revenue growth of 9% to 11% for 2024 as a whole.

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