American Express earnings reveal a bounce back in corporate travel
Spending on travel and entertainment came roaring back in the second quarter, and it wasn’t just consumers making the purchases, according to the latest results from American Express . The company said consumer spending in the category topped pre- Covid pandemic levels for the first time in April. Notably, there also was a significant uptick in corporate travel. The results were good enough for AmEx to raise its revenue forecast, and the company’s shares jumped more than 5% on the news . AmEx expects revenue to rise between 23% and 25% this year, up from an earlier forecast of 18%