American Express’ Revenue Breakdown (2017-2022)

This statistic highlights American Express’ Revenue Breakdown, split between Global Consumer Services Group, Global Commercial Services , and Global Merchant & Network Service, reported on a quarterly basis from Q2 2017 onwards.

The different business verticals of American Express are as follows:

1. Global Consumer Services Group (GCSG) – GCSG offers a variety of proprietary consumer cards as well as services such as travel and lifestyle service and other non-card financial products. It also manages a number of international joint ventures, partnership agreements in China, and loyalty coalition businesses in various countries.
2. Global Commercial Services (GCS)-  GCS issues a wide range of small business and corporate cards globally and provides payment, commercial financing products, and expense management.
3. Global Merchant and Network Service (GMNS) – GMNS runs a payment network that processes and settles card transactions, acquires merchants, and provides multi-channel advertising and marketing programs as well as data analytics through its international network. It also manages relationships with third-party issuers, merchant acquirers, and gift card program managers, licensing the brand of American Express and expanding it’s reach.

American Express’ Revenue Breakdown

(All figures are in millions, except percentages)

Trends observed: 

• The revenue of Global Consumer Services Group increased from $2,364 million to $3,392 million roughly by 43.5% on a year-on-year basis. Also, the Revenue contribution of GCSG increased from 43.89% in Q3 2020 to 47.5% in 2021. This increase was primarily due to Higher Discount Revenue, Commission, and Net Card Fees driven by an increase in average fees per card of premium card products, travel commission fees, and consumer billed business.
• The above table shows an increase in revenue of Global Commercial Services from $1,969 million in Q3 2020 to $2,556 million in Q3 2021 indicating a growth by 30% on a year-on-year basis. The increase in revenue was driven by higher average Card Member Loan Balance and higher foreign exchange conversion revenue. But the revenue contribution of GCS slightly declined from 36.55% to 36% in Q3 2021.
• Global Merchant & Networking Services’ revenue increased from $1,053 million to $1198 million showing an increment of approximately 13.8%. This increase was driven by Higher Discount rates due to a mix of spending powered by a higher level of T&E volume. Also, the revenue contribution of GMNS declined from 19.55% in Q3 2020 to 17% in Q3 2021.

About the company

The American Express Company (AmEx) is a multinational corporation headquartered in New York City and was founded in 1850. It is an integrated payment company that provides a wide range of products and services to consumers and businesses across the world and is included in the Dow Jones Industrial Average’s 30. It runs a payment network through which it communicates with third-party and other institutions.

Products and Services offered:

• Credit Cards
• Business Credit Cards
• Corporate Programs
• Prepaid Cards
• Savings Account and CDs
• Gift Cards
• Travel and lifestyle service

The products and services offered are sold via various channels such as mobile and online applications, direct mail, telephone, third-party vendor, etc.  American Express has been ranked 23rd Most Valuable Brand in the world (and the first within financial services) in 2017, valuing the company at $24.5 billion by Forbes.  American Express was ranked ninth on Fortune magazine’s list of the Top 100 Companies to Work for in 2020.

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