The American Express company started in the year 1850, and it is a multinational financial service which is situated in New York City. The company is mostly known for its credit card, traveler’s cheese, and charge card businesses. In the year 1986, the company invested in the brokerage industry, and then it acquires Smith Barney Shearson.
How the company becomes so big?
In the year 2016, the credit cards using the American Express network were about 22.9 % of the total dollar volume of credit card transactions in the whole United States. The company had a total of 114.4 million cards and used as of 31st December 2019.
It also includes 54.7 million cards in the US, which has the spending of almost around $20,000. In 2017, the company American Express was named the 23rd most valuable brand in the world, and it was the highest within the companies in the financial business.
You can estimate the brand value of the company to be around 24.5 billion dollars in the year 2020.The American Express was at the number 9 on the list of top 100 companies to work for in 2020.
How the card services started?
The American express started to think about their charge car services from the year 1946. It was not started when Diner Club also started their card in the year1950. After that, the company started to take the card business seriously and at the end of the year 1957.
The CEO of the company then decided to start the cards business and launched it on 1st October 1958. There were about 250,000 cards that were launched even before the release date. There was an annual fee of about $7, which was higher by $1 when compared with the Diners Club.
Finances for the company
The American Express reported earnings of about US $2.634 Billion during the year 2017. It shows an annual revenue of about US $35.583 billion. It showed an increase of about 5.2% growth in its previous fiscal year cycle. The NYSE: AXP at https://www.webull.com/quote/nyse-axp shares were traded at the value of about $83 for every share.
The market capitalizationin October 2018 showed a value of about US $85.5 billion. The ranking of the American Express was at #86 in the list of Fortune 500 List of the largest United States Corporation in the year 2018 based on the total revenue.
These are some of the things that help in improving the value at the NYSE: AXP. The company has shown a lot of increase in its brand value and amongst the top in the US. You can check out the current value of the company to understand how it changes. Such things will prove useful for you and ensure that you are aware of all the things. You can do stock trading at the best day trading app.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.