“We're pleased with the growth and expect to exit the year with further momentum.”

In context

“were up 9% year-over-year, benefiting from the diversification across revenue streams, customer segments and geographies. Looking at the components of our revenue, our largest revenue line, discount revenue grew 5% year-over-year on an FX adjusted basis, as you can see on Slide 12. This growth is mostly driven by the spending trends we discussed earlier. Net card fee revenues were up 16% year-over-year on an FX adjusted basis. As you can see on Slide 13, we're now generating over $2 billion in quarterly card fee revenue as the differentiated value and experiences we offer on our products continues to resonate with our card members globally. This is an important metric for us because it also reflects the choice that our costs -- that our customers make each year to renew their membership. We're pleased with the growth and expect to exit the year with further momentum. In the quarter, we acquired 3.3 million new cards, demonstrating the demand we're seeing for our products and the investment we've made. Acquisition of our premium fee based products continued to account for around 70% of new accounts. And importantly, as we have increased the total number of cards acquired, we have maintained disciplined underwriting standards. Moving on to Slide 14, net interest income was up 20% year-over-year. This growth is driven by the increase in our revolving loan balances, which also contributes to the continued net yield expansion versus the prior year. As we've shared before, we continue to expect this growth to further moderate as we progress through the year. To sum up, revenues on Slide 15, the power of our diversified model continues to drive strong revenu”