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."