Jim Cramer Notes American Express' Strong Results

American Express Company (NYSE:AXP) is one of the stocks Jim Cramer was focused on recently. Cramer dissected the company’s latest earnings during the episode, as he said:

“What was so great about this quarter that American Express finally… [broke] its post-earnings losing streak? Well, to start, the results were just fantastic… In short, the overseas business is great, too. Even better, American Express raised the low end of its full-year sales and earnings guidance… The credit metrics are improving. Tell that to the bears. The percent of card members’ loans and receivables that are 30 plus days past due remains at just 1.3%.

That number hasn’t budged over the past five quarters… What was different about this quarter, different enough to send the stock into the stratosphere? Okay, right at the start of the conference call on Friday, CEO Steve Squeri, one of my absolute favorite CEOs, said that the recent launch of their new platinum card has been a success…

Here’s the bottom line: On Friday, American Express reported a fantastic quarter. And for once, its stock actually rallied in response. Highly unusual, people, but it makes sense. The numbers remain excellent, including the credit metrics. The new platinum card is a huge hit. Frankly, I just wish the stock had sold off like usual so I could tell you to buy it on weakness. But hey, there’s always next quarter.”

American Express Company (NYSE:AXP) provides credit and charge cards, payment and financing solutions, and travel and lifestyle services.

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Disclosure: None. This article is originally published at Insider Monkey.