talk line year. strong results about Thank with of are here Steve, morning, for good full and the quarter results, another in gave be It's which we good the you, to first guidance everyone. to reflect the and quarter tracking
financials summary on our with Starting X. Slide
$X.X reported share $X.XX. revenues year-over-year. and earnings $XX.X quarter income momentum revenue of per of and XX% billion net billion This were First grew drove
basis, we the we Slide on quarters in the X. overall as in with grew expected. Billed quarter On environment in spend few the FX-adjusted X% versus first seen business last have year past an line
entertainment and services across our We spending growth points trends break in X% spending. There spending other to our saw take businesses. few category. and then as goods in away down X% a we by are Looking travel and key growth
all largest and quarter, continued Z spending Starting age segment across this our cohorts. within drive and billings to business X. on with their generations Gen highest Slide at customers U.S. grew Consumer Millennial billed growth XX% growth this with segment. grew and our X%
fact, In certain even younger we that more customers pronounced use this cards their and more in categories. see is overall spend
and more example, over other on XX cards customers aged use restaurants segment. XX% customers in average their For than at under this
dynamics on came given this Services businesses. modest, by in unique U.S. Commercial X% and the growth at seen customers growth at Slide our Looking Overall from remained quarter. Spending small enterprise X. small- medium-sized
International X, again highest Slide see XX%. up on Lastly, Card growth our in you Services, this quarter
to continued and consumers large international as corporate growth international and from growth SME double-digit across well as We our from see customers geographies. in strong spending
while our double pleased of to softer strong with support expectations the continued our grow number Card to do in the this are And see to of Overall, our we guidance environment, are engagement quarter. spend spending the customers for volumes transactions continued a digits year. full from continue with line we our tracking as revenue Members our
to and growth of We receivables XX%. on Member loans year-over-year moving Card saw Now X. on Slide
progress continue XXXX, still we moderate through to to we grow modestly than expect to faster As billings. growth this but
on provision XX. Turning next through to X credit Slide and
and to growth our management performance practices risk quality base, credit First, to see We our and continued customer this strategy. of best-in-class robust metrics. our most credit the importantly, and high we attribute strong disciplined
a we As ticked very up our quarter-over-quarter. increasing rates write-off modestly expected, bit, delinquency and
rates expect Going modest delinquency write-off to in strong increase with this forward, we XXXX. continued and some see remain
growth X. modest credit million reserve Card Member combined in with performance first our quarter. provision in the in resulted now $XXX the a a reserve Slide net write-offs, This combined $X.X The of loans delinquency expense billion balances, rate, build, to and receivables Turning accounting increase -- of loan credit drove build. of with quarter-over-quarter in our this on
total see loans and you reserves our first Card quarter of we in with billion X.X% Slide on As Member XX, the receivables. ended $X.X representing
we this the to XXXX, similar bit we've We modest increase reserve through seen move to quarters. increases few the expect past continue rate over as a to
first year-over-year Moving quarter. Total revenues revenue to the up next Slide on were XX. in XX%
year-over-year line, Slide revenue, in the earlier. discount X% This FX-adjusted you we've an basis as grew revenue see spending on by XX. driven largest trends Our mostly growth discussed on is can QX
year-over-year first Slide up fees Net an you quarter were card on in FX-adjusted on XX% see XX. the revenues basis as can
the product We this to our of growth with pleased are reflecting and exit expect to continue further cycle with momentum, some refreshes. year
cards, the made. and acquired demand new demonstrating seeing we're investments products for X.X we've quarter, the In the our we million
and of new and of our acquisition continue products look accounts Importantly, the new credit strong. members revenue accounted for to around of XX% our spend, premium card fee-based profiles
to Moving XX. Slide on
by see was QX. net XX% versus by in can income driven that interest balances year-over-year net the loan increase You year. last in expansion and is also up This revolving yield continued our growth
model, do that this would business We for I this our lower And expect a remind rate to would growth the to to moderate expect interest we continue you from meaningful see year. year. not the as through we environment move impact
To on power strong revenue diversified of Slide the XX, continues revenues sum our growth up model momentum. to drive
our I Consumer from small that CFPB less fee X% a overall rule would of revenue. make U.S. segment late think as note portion, about up our late than fees the you
always at now, mitigate we we pricing the of While are and no our specific have as looking plans of in ordinary policies to business. course
revenues engagement at top came expenses quarter. the total Starting XX. of Slide customer on page, XX% variable expenses the the of in at first for to Moving
some look which future you that I As Member a of membership for $XXX to costs, redemption, result growth benefit at included million we our enhancements note would rewards of estimating rewards line. Card a these models as for in reinvested our marketing
customer variable from on expenses our continue drive still we premium I Card to a year our forward, our higher products expect to grow than Members. basis engagement slightly engagement our on Looking focus and full as revenue
increased On $X.X first the billion quarter. in we investments the marketing line, to
And acquisition a we be the We strong year. on result these track in customer marketing versus increase engagement as are spend high-quality continue to actions. of with last to and pleased XXXX we see
brings our billion flat the expectations first bottom expenses, expense $X.X operating in for year's and were last to year. in us which Moving Slide the XX with line the to quarter, to of
look the This this seen while of our manage at to and operating is drive versus expenses, compared great years. last grew with and business. our year our reflects you over efficiency we the discipline continuing When in expenses salaries to example we're of grow modestly we've a growth which the able line past to components benefits the how
are We and continue to we of see historically low OpEx as as a focused have on key of done. growth levels source leverage delivering
Slide on XX. to next capital Turning
returned $X.X generation. earnings strong on our capital shareholders the back first in have to billion quarter of the of We
target Our within XX.X% range CETX ratio quarter, end first at of of the the our XX% to XX%. was
not do excess to supporting our capital approach. changes growth. capital return while continue We near-term expect sheet to We the our we any shareholders management plan to balance generate material to
guidance results, XXXX feel on our to results expectations to XX. invest really quarter continue good our tracking for that line with which to and are our to our reinforce me continue in Slide strategy about These the We year. working, to is we brings plan our That first support momentum.
$XX.XX. full the the share term. XXXX, $XX.XX business we to are earnings for X% remain And for our having of discussed, per guidance long and and revenue of year Steve As between XX% running to reaffirming growth we the committed
business impact through this related from full just the sale year include XXXX a our to do announced. Accertify that items the that we guidance previously walked As and the potential I of the reminder, not
We back close on realize detail plan of a transactions gain still the the business sizable gain expect the the with then. in deal sale we've second We substantial to similar to into reinvest portion provide quarter our expect and the past. a done to to more and as in
Kartik the call turn I'll questions. that, the up With to call open for your to over back
