American Express Company AXP recently introduced an exclusive benefit for its Cardmembers by providing “Amex Offers” on the Amex HK mobile app. The profitable and diversified set of benefits is already being availed by Cardmembers from Sep 1, 2022.
Shares of American Express lost 1.2% on Sep 20, replicating a decline in the broader markets.
The offers available on the Amex HK mobile app are applicable for daily spending by Cardmembers across various groups, such as food & beverage, fashion, beauty and lifestyle. The benefits can be reaped as spending rewards while shopping from selected merchants like Arome Bakery, BERACAMY, MADIA and Ralph Lauren RL Besides, the offers can be accessed conveniently from one’s mobile phone.
All American Express Cardmembers need to merely sign into their Amex HK mobile app’s accounts and select their desired “Amex Offers”. The offers are subsequently saved to their respective eligible American Express cards.
This latest move to launch offers on a mobile app also seems aptly timed by American Express since the global economy is witnessing the growing adoption of digital means spurred by increased usage of smartphones and higher Internet penetration.
As mobile phones became integral to our lives and are handy, Cardmembers will be updated on the latest Amex offers via the mobile app.
American Express often resorts to enhancing benefits or incorporating new options within its card offerings, thus catering to the evolving needs of a global consumer and commercial customer base. The latest move bears testament to a similar effort.
With the card-issuing business remaining an important source of revenues for AXP, initiatives to upgrade card offerings are expected to continue contributing to AXP’s top-line growth. American Express is also constantly focusing on technology upgrades and introductions of secured digital payment options to cater to the growing adoption of digital means.
Shares of American Express have lost 6.2% year to date compared with the industry’s decline of 18.9%.
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Zacks Rank & Key Picks
American Express currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Finance space are Blackstone Mortgage Trust, Inc. BXMT and Residential Equity EQR While Blackstone Mortgage currently flaunts a Zacks Rank #1 (Strong Buy), Equity Residential carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Blackstone Mortgage outpaced estimates in three of the last four quarters and missed the mark once, the average surprise being 8.92%. The Zacks Consensus Estimate for BXMT’s 2022 earnings suggests an improvement of 1.2%, while the same for revenues suggests growth of 13.9% from the respective year-ago reported figures. The consensus mark for BXMT’s 2022 earnings has moved 4.7% north in the past 60 days.
Equity Residential’s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average being 1.53%. The Zacks Consensus Estimate for EQR’s 2022 earnings suggests an improvement of 17.4%, while the same for revenues suggests growth of 11.1% from the corresponding year-ago reported figures. The consensus mark for EQR’s 2022 earnings has moved 0.3% north in the past 30 days.
Shares of Blackstone Mortgage and Equity Residential have lost 5.6% and 22.4%, respectively, year to date.
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