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changes in our credit reserves
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2022 Q3
26 Oct 22
two components to our provision expense: our actual write-off performance
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2022 Q3
26 Oct 22
Total network volumes and build business were each up year-over-year at 23% and 24%, respectively, on an FX-adjusted basis in the third quarter.
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2022 Q3
26 Oct 22
third quarter build business grew 30%
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2022 Q3
26 Oct 22
our expectation for operating expenses to be around $13 billion for the full year
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2022 Q3
26 Oct 22
marketing line, we invested $1.5 billion in the third quarter, on track with our expectation to spend over $5 billion in 2022
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2022 Q3
26 Oct 22
while we are leaving our full year reported revenue guidance at 23% to 25% for 2022, I would expect to be above that growth rate range on an FX-adjusted basis
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2022 Q3
26 Oct 22
Over time, though, I would expect rising rates to represent a modest headwind
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2022 Q3
26 Oct 22
This quarter, we acquired 3.3 million new cards
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2022 Q3
26 Oct 22
we continue to expect delinquency and loss rates to move up slowly over time, but to remain below pre-pandemic levels this yea
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2022 Q3
26 Oct 22
even with this quarter's reserve build, this remains well – the reserve levels we had pre-pandemic
*well-below*
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2022 Q3
26 Oct 22
$387 million reserve build. This reserve build, combined with low net write-offs, drove $778 million of provision expense for the third quarter.
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2022 Q3
26 Oct 22
delinquency rates for loans have started to modestly pick up, but also remain well below pre-pandemic levels
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2022 Q3
26 Oct 22
Write-off rates for Card Member loans remain well below pre-pandemic levels
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2022 Q3
26 Oct 22
Millennial and Gen Z customers, again, drove our highest bill business growth within this segment, with their spending growing 39% year-over-year this quarter.
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2022 Q3
26 Oct 22
billings from our US consumer customers grew at 22%
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2022 Q3
26 Oct 22
we expect to be above our original full year EPS guidance range of $9.25 to $9.65
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2022 Q3
26 Oct 22
our full year revenue growth guidance of 23% to 25%
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2022 Q3
26 Oct 22
we seek to achieve our long-term growth plan aspirations of revenue growth in excess of 10% and mid-teens EPS growth in 2024 and beyond
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2022 Q3
26 Oct 22
we see no changes in the spending behaviors of our customers, and our credit metrics continue to be strong with delinquencies and write-offs remaining at low levels
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2022 Q3
26 Oct 22