American Express’ Q2 2024: premium profits in a slowing economy, but valuation remains questionable 🤔💸; Stripe leads FinTech funding resurgence in Q2, signaling renewed investor confidence 😤📈

FinTech is Eating the World, 19 July

Hey Everyone,

Happy Saturday! We’re finishing off another great FinTech week on Saturday as I was stuck in an airport for the last 30 hours (thanks CrowdStrike CRWD 0.00%↑ & Microsoft MSFT 0.00%↑ 🙃). Anyways, the newest issue is absolutely worth the wait as we’re going to look at the latest financials of American Express (breaking down their Q2 2024 numbers, what they mean to see whether AmEx is worth your time and money in 2024 + some bonus deep dives into AmEx), and Stripe that leads FinTech funding resurgence in Q2 (why it’s signaling renewed investor confidence & why it matters + a bonus dive into Stripe). Let’s just jump straight into the intersting stuff 🌶

American Express’ Q2 2024: premium profits in a slowing economy, but valuation remains questionable 🤔💸

Earnings time 🤑 Finance giant American Express AXP 0.00%↑ just delivered strong Q2 2024 results, showcasing the resilience of its premium-focused business model amidst a challenging macroeconomic environment.

It also raised its full-year profit forecast as its wealthy customers persisted in splurging on travel, dining and entertainment.

Let’s take a closer look at this, unpack the most important numbers and what they mean, and see whether AmEx is worth your time and money in 2024.