美国运通 2024年度报告

2024 ANNUAL REPORT DEAR SHAREHOLDERS, 2024 was another strong year for American Express. We delivered record-setting resultsby continuingtoexecute our strategy of investing in our value propositions, coverage, marketing, technology, andtalent. As we prepare to celebrateour company’s 175thanniversary this month, I am incrediblygrateful for ourCard Members, merchants and partners for their loyalty andsupport; and I am immenselyproud of ourcolleagueswhocontinue todeliver innovative products and services for our customers, whilestayingtrue to our brand built on trust, security, and service since our earliest days. 2024 Year-in-Review Our full-year 2024 results set new records across key metrics. We delivered record revenues of $66billion for the year, up 9 percent or 10 percent on an FX-adjusted basis1; and we had record annual netincome of over $10 billion, or $14.01 per share, up 25percent year-over-yearincluding the gain fromAccertify2.Full-yearrevenuegrowth wasconsistent with the growth aspirations we have for thecompany over the long-term, while EPS growth was higher. We also sawrecord levels of annual Card Member spendingand record net card fees, which has grownatdoubledigit levelsfor 26 consecutive quarters.During the year, weacquired a record 13 million newproprietary cards andsaw continued high Card Member retention, whilemaintaining ourbest-in-classcredit performance and disciplined expense management. Throughout2024, we continued to enrich our Membership Model, refreshing over 40 products globally,including the U.S. Consumer Gold Card and Delta cobrand cards, enhancing our dining portfolio with theacquisitions of Tock and Rooam, and launching several new top-tier sponsorships and experiences, suchas our multi-year global partnership with Formula 1. Millennial andGen Z consumers were our fastest growingage cohort in terms of bothnew accountacquisitionsand Card Member spending,demonstrating that our premium value propositions areresonating and driving strong engagement with younger customers. We also continued to grow oursmall-and medium-sized enterprise (SME) customer base in the U.S., with strong new Card acquisitionsthroughout the year. Our InternationalCard Services segmentcontinued to deliver double-digit billingsgrowth, with strengthin both Consumer and Commercialcustomers. We also added millions of newmerchant locations globally in 2024 as we continued to expand coverage. Theseresults—powered byover 75,000 exceptional colleagues—demonstrate thatour strategyisworking, enabling us todrivesustainedtop-line growth,superior earnings,and strong returns for ourshareholders. CelebratingOur 175 Years of Growth & Innovation On March 18th, American Express will celebrate a major milestone –175 years in business. It has been ajourney of innovation, transformation and resiliency. By continuously reinventing ourselves, challenging the status quo and evolving to serve our customers,colleagues and communities in new and innovative ways, we transformed from an express deliverycompany intothe global premium financial and lifestyle company that we are today. Throughout ourjourney, the one thing that remained constant has been our brand promise oftrust, security, and service.This unique combination of a resilient brand and continuous innovation is how we have been delivering“ThePowerful Backing of American Express”tmfor 175 years. American Express was established as a freight delivery companyin 1850,soonaftertheCalifornia GoldRush set off the great westward migration across the country.We delivered all kinds of goodswithhorses, wagons, and trains and what stoodusapart wasour promise to make good on any losses ifsomething unfortunate happened to our customers’ belongings. We backed our customers, and weearned their trust. As our reputation of reliable servicecontinued togrow, our businessexpandednationwide,and theninternationally.By the early 20th century, we hadAmerican Expressoffices acrossEurope, Asia and Latin America. As we grew internationally, we recognized that our customersneeded a safe way to move cash, inaddition togoods. To meet this need, weintroduced American Express® Money Ordersin 1882,markingourentryinto financial services.Once again, wedifferentiated our Money Order offeringbyguaranteeing to fully protect customers against loss, fraud, or delays. This movepaved the way for ourfirst majorinnovationin 1891- theintroduction of theTravelers Cheque, which providedour customerswitha secure and convenient way toexchange money while they traveled.This inventionalso had aunique watermark and a countersignature that made the cheques difficult to counterfeit, reinforcing ourreputation for security. A few decades later, we made the decision to enter the travelbusiness,which stemmed fromthe trustour customers put in our colleagues at Express offices around the worldto provide them travel advicewhile cashing Travelers Cheques.The decision to enter the travel business, while hotly debated at thetim