Credit Quality ConcernsAnalyst forecasts indicate T&E could face further slowdown, leading to revenue growth projections adjusted to +9.4%, below the targeted range.
Financial PerformanceRevenue was below expectation, mainly due to lower discount revenue.
Loyalty Program ChangesDelta announced changes to its SkyMiles program that will make it more difficult to earn status, increasing cancellation risk in AXPs co-brand partnership with Delta.