And T&E grew in line with the steady levels we saw for most of last year, reflecting continued strength in restaurant and lodging spending. We did see a deceleration in airline spending relative to 2024 trends. Although spending on front of cabin tickets remained strong, up around 11% in the quarter.
Apr 17, 2025 / CFO / receipt, needs a key / Christophe Lecayac, CFO | earnings call 2025-04-17 | transcript a101aafb-54c5-4c39-9841-5eb37227ee5c | chars 7669-7970 | segment 7
In 2025, we expect operating expenses to grow in low single digits versus 2024 levels adjusted for the S-certified gain. This continues our strong track record of disciplined expense management as we maintain the low levels of growth from last year while still investing in key areas such as technology.
Jan 24, 2025 / CFO / receipt, needs a key / Christophe Lecayac, CFO | earnings call 2025-01-24 | transcript 822eb3cd-5676-4691-99cf-1a5a47fa469b | chars 15992-16295 | segment 16
The stability in spend growth was also visible by category, where we saw 6% growth in goods and services, 7% growth in travel and entertainment spending. We did see some slower growth in certain T&E categories versus the prior quarter, such as in airline and lodging.
Jul 19, 2024 / CFO / receipt, needs a key / Christophe Lecayac, CFO | earnings call 2024-07-19 | transcript ba96e38f-b862-448f-8bb2-79d90eec39ee | chars 8059-8326 | segment 8
Looking by category, we saw 6% growth in goods and services spending and 8% growth in travel and entertainment spending.
Apr 19, 2024 / CFO / receipt, needs a key / Christophe Lecayac, CFO | earnings call 2024-04-19 | transcript cd1f1919-8bae-4738-a6fa-24ae47f22d16 | chars 5074-5194 | segment 5
Marketing expense came in lower than we expected for the quarter, reflecting lower demand given the softer T&E environment.
Jan 26, 2024 / CFO / receipt, needs a key / Christophe Lecayac, CFO | earnings call 2024-01-26 | transcript a22f3549-c4fd-4e3f-a6b5-fdcacc3ca9c8 | chars 16454-16577 | segment 16
Restaurant spending remains our largest T&E category and reached $100 billion for the food year for the first time, while airline spending growth slowed in the quarter.
Jan 26, 2024 / CFO / receipt, needs a key / Christophe Lecayac, CFO | earnings call 2024-01-26 | transcript a22f3549-c4fd-4e3f-a6b5-fdcacc3ca9c8 | chars 9738-9906 | segment 10
As T&E spend growth slowed a bit in the quarter, we saw lower rewards costs than we had expected. For example, a lower mix of redemptions for airline tickets and fewer points earned on airline spend.
Jan 26, 2024 / CFO / receipt, needs a key / Christophe Lecayac, CFO | earnings call 2024-01-26 | transcript a22f3549-c4fd-4e3f-a6b5-fdcacc3ca9c8 | chars 15843-16042 | segment 16