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Page 6 of 6
As you see on Slide 11, we ended the second quarter with $3.2 billion of reserves, representing 3.1% of our loan balances and 0.2% of our Card Member receivable balances, respectively. This remains well below the reserve levels we had pre-pandemic.
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2022 Q2
22 Jul 22
This reserve build, combined with our low net write-offs, drove $410 million of provision expense for the second quarter.
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2022 Q2
22 Jul 22
Card Member loans and receivables write-off and delinquency rates remain well below pre-pandemic levels. And though they did continue to tick up slightly overall this quarter, as we expected, they are trending a bit better than our expectations when we started the year.
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2022 Q2
22 Jul 22
second quarter pretax pre-provision income was $3 billion, up 27% versus the same time period last year.
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2022 Q2
22 Jul 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 Q2
22 Jul 22
The travel rebound in particular has been faster and stronger than anyone expected. T
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2022 Q2
22 Jul 22
Spending by this age group grew 48% in the second quarter, significantly outpacing other generations.
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2022 Q2
22 Jul 22
millennials and Gen Z consumers are a large part of our existing customer base and our fastest-growing age cohort, making up 60% of all new consumer Card Members we're acquiring and around 75% of new U.S. consumer Platinum and Gold Card Members.
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2022 Q2
22 Jul 22
We added 3.2 million new proprietary cards in the quarter
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2022 Q2
22 Jul 22
Billed business was up 30% from a year earlier on an FX-adjusted basis, led by a vigorous rebound in travel and entertainment spending and continued strong growth in goods and services.
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2022 Q2
22 Jul 22
significant uptick in large and global corporate travel.
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2022 Q2
22 Jul 22
otal T&E spending exceeded pre-pandemic levels in April for the first time. It was at 108% of 2019 levels for the quarter
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2022 Q2
22 Jul 22
all other age cohorts have now reached pre-pandemic levels of T&E spending, including baby boomers, who had been slower to recover.
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2022 Q2
22 Jul 22
millennial and Gen Z customers continue to drive our highest global consumer billed business growth, with their spending up 48% year-over-year.
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2022 Q2
22 Jul 22
if you were to compare to 2019, the first quarter grew 19%, while the second quarter growth rate accelerated even further to 28%.
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2022 Q2
22 Jul 22
Billed business and total network volumes were up around 30% year-over-year on an FX-adjusted basis in the second quarter.
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2022 Q2
22 Jul 22
we don't see demand in the T&E categories declining significantly anytime soon. Based on the strength of future bookings coming through our consumer travel agency and the trends our partners in the travel industry like Delta are experiencing, particularly in the premium space.
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2022 Q2
22 Jul 22
This is a sign of a more meaningful business travel recovery.
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2022 Q2
22 Jul 22
The historically low unemployment rate is a positive factor as it's helping to drive our strong credit metrics. And we continue to see no significant signs of stress in our consumer base. Inflation is a bit of a mixed bag. It's a modest contributor to our strong growth in volumes. But inflation when combined with low unemployment also puts pressure on operating costs.
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2022 Q2
22 Jul 22