American Express Company (NYSE:AXP) Q3 2023 Earnings Call Transcript October 20, 2023 8:30 AM ET

Company Participants

Kerri Bernstein - Head of IR

Steve Squeri - Chairman and CEO

Christophe Le Caillec - CFO

Conference Call Participants

Sanjay Sakhrani - KBW

Ryan Nash - Goldman Sachs

Bob Napoli - William Blair

Rick Shane - JPMorgan

Don Fandetti - Wells Fargo

Jeff Adelson - Morgan Stanley

Bill Carcache - Wolfe Research

Dominick Gabriele - Oppenheimer

Arren Cyganovich - Citi

Craig Mauer - FT Partners

Mihir Bhatia - Bank of America

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the American Express Q3 2023 Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, today's call is being recorded.

I would now like to turn the conference over to our host, Head of Investor Relations, Ms. Kerri Bernstein. Thank you. Please go ahead.

Kerri Bernstein

Thank you, Donna, and thank you all for joining today's call. As a reminder, before we begin, today's discussion contains forward-looking statements about the company's future business and financial performance. These are based on management's current expectations and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these statements are included in today's presentation slides and in our reports on file with the SEC.

The discussion today also contains non-GAAP financial measures. The comparable GAAP financial measures are included in this quarter's earnings materials as well as the earnings materials for the prior periods we discussed. All of these are posted on our website at ir.americanexpress.com. We'll begin today with Steve Squeri, Chairman and CEO, who will start with some remarks about the company's progress and results. And then Christophe Le Caillec, Chief Financial Officer, will provide a more detailed review of our financial performance. After that, we'll move to a Q&A session on the results with both Steve and Christophe.

With that, let me turn it over to Steve.

Steve Squeri

Thank you, Kerri. Good morning, and thanks for joining us today for our third quarter earnings call. Q3 was our seventh consecutive quarter of strong performance, continuing in the momentum we've built over the last few years and aligned with the growth plan we announced in 2022. It was the sixth consecutive quarter of record revenues which reached $15.4 billion, up 13% year-over-year. Earnings per share of $3.30 was also a new quarterly record.