The following is a summary of the American Express Company (AXP) Q4 2023 Earnings Call Transcript:

Financial Performance:

American Express reported a record annual revenue of $61 billion in 2023, marking a 15% increase on an FX adjusted basis.
The company achieved a record net income of over $8 billion with an EPS of $11.21.
The Q4 2023 results saw revenues reaching nearly $16 billion and an EPS of $2.62.
Projected annual revenue growth for 2024 is between 9% and 11% with a full-year EPS expected to be between $12.65 and $13.15.
The quarterly dividend will increase from $0.60 to $0.70 a share starting Q1 2024.
Full-year revenues stood at $60.5 billion, up 15% on an FX adjusted basis.
Fourth quarter revenues were at $15.8 billion, reflecting an 11% YoY increase.
The company returned $5.3 billion of capital to shareholders in 2023 and plans to continue investing in the balance sheet, distributing dividends, and buying shares.

Business Progress:

Over the last two years, American Express increased its business scale by over 40%, adding 25 million new proprietary card accounts and reaching over 140 million cards globally.
The company reported an annual card spending increase by 37% at $1.5 trillion.
By investing in innovation, 60% of new consumer accounts in 2023 were of millennial and Gen Z consumers.
Plans for 2024 include refreshing 40 products and aiming for an annual revenue growth of 10% and mid-teens EPS growth.
Strong customer engagement led to a 6% increase in Q4 billed business and a yearly total billed business growth of 9%.
Improved credit trends were experienced with a write-off rate of 2% in Q4, lower than before the pandemic. This will focus on maintaining a capital position between 10% and 11% of risk-weighted assets.
Part of the strategy for further growth includes focusing on new high-quality, premium cardmembers and increasing engagement with existing cardholders.