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In CEO Stephen Squeri’s first full year on the job, the company known for its corporate credit cards rose 19 spots on the Global 500. AmEx grew revenues nearly 9% last year, a gain due in part to the amount of card fees it collected, which shot up about twice as fast as overall revenue. Spending on its cards rose in 2019—but then, so did costs, which resulted in a slight dip in profits. And the company is bracing for leaner times in 2020: In addition to its human toll, the coronavirus has both decimated business travel and left offices around much of the world largely empty. All that means fewer charges on AmEx-linked expense accounts.
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Lists ranking American Express
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