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CLAIM #8357 · American Express Company (AXP) · 2023Q2 earnings call · Jul 21, 2023 · due Jan 21, 2024

So I think that will continue to come back.

Stephen Squeri · CEO

PENDING
graded after results covering Jan 21, 2024 are reported

In context

consumer travel business, we feel really [Technical Difficulty] about that. As far as a small business and corporate, look, I think it's so about large corporate first. I think large corporate it's crawling its way back is the best way to describe it. It is a small piece of our business. It's about 5% of our business right now. It's an important piece of our business and we value all of the corporate relationships that we have. But as many of us know, the first step is to get people into the OS and then the second step is to get them out onto the road. And I think what you're seeing a little bit less of is those one as one-stop trips, that quick hop to London to meet with that one client or that quick sort of run across the country to have an internal meeting, you're seeing less of that. So I think that will continue to come back. We continue to be aggressive, obviously, at retaining those customers and aggressive acquiring new customers, but I think that's going to be slower. I don't think that's coming back as fast, which is a contrast consumer. As far as small business goes, I think when we look at small business, I think the biggest thing there from a small business perspective is really the organic growth. I think organic growth has slowed. I don't think that's an Amex phenomenon. I think that's a little bit of an industry phenomenon. And I think small businesses grew very, very rapidly. And I think they have slowed down. What we have focused in on from a small business perspective is making sure we're continuing to acquire more small business customers, continuing to meet the other needs that they have, which

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SEC filings for AXP · Claim quote is verbatim from the 2023Q2 earnings call.