American Express turned in solid quarterly results Friday, increased its dividend, and highlighted record levels of card member spending. However, investors seemed to be shrug off the positives, sending shares 2.

American Express shares fell about 3% Friday after the company reported earnings and gave an outlook that disappointed some investors. The credit card company logged net income of $2.17 billion, or $3.

"2024 was another strong year for American Express," CEO Stephen J. Squeri said in a statement. "We exited the year with increased momentum, with billings growth accelerating to 8 percent in the fourth quarter, driven by stronger spending from our consumer and commercial customers during the holiday season."

AXP is likely to have witnessed a rise in network volumes during the fourth quarter, continuing the trend seen in the past quarters.

American Express Company (NYSE:AXP) shares soared to an all-time high this week, reaching a remarkable price level of $324.17. With a robust market capitalization of $227 billion and an overall "GREAT" financial health score according to InvestingPro,