Changes in US stocks | American Express (AXP.US) fell more than 6%, Q2 spending growth surpassed revenue or reduced profit margins

The Zhitong Finance App learned that on Friday, American Express (AXP.US) fell more than 6% to $318.88. According to the news, American Express's financial report for the second quarter ending June 30 shows total revenue (before interest expenses) of 19.637 billion US dollars, up 10% year on year, slightly lower than market expectations of 19.69 billion US dollars; net profit of 3.11 billion US dollars, up 8% year on year (same period last year: 2,885 billion US dollars); diluted earnings per share (EPS) of 4.53 US dollars, up 11% year on year, higher than analysts' expectations of $4.40. The company's total expenditure increased 12% year over year, with a revenue growth rate of more than 10%, mainly driven by increased customer participation costs due to increased card membership consumption, the renewal and upgrade of US Platinum Card benefits, and increased usage of card member benefits, raising market concerns about pressure on profit margins. Zacks analysts have previously warned that rising customer participation costs associated with increased card member spending and increased travel and lifestyle usage rates may reduce profit margins.