American Express Company

American Express Company Earnings Recaps

AXP Financials 3 recaps
Next earnings: October 16, 2026 (estimated) · full calendar
Q2 2026 Jul 26, 2026

Shares declined 4.3% following the earnings release as investors focused on the deceleration in variable card member engagement growth and a cautious second-half outlook despite raised revenue guidance.

Key takeaways
  • Q2 revenue increased 10%, driven by accelerated spend growth in the Platinum portfolio, the fastest growing segment in U.S. consumer business.
  • EPS of $4.53 aligned with expectations, but full-year EPS guidance remained unchanged at $17.30 to $17.90 despite raised revenue forecast.
  • Management chose to invest incremental revenue in growth initiatives rather than boost EPS through buybacks, signaling cautious profitability leverage near term.
  • Variable card member engagement growth is expected to decelerate in H2 as prior year Platinum refresh laps, raising concerns about sustainability of momentum.
  • Strong credit performance continued, with 65% of new consumer accounts from Millennials and Gen-Z, supporting retention and underwriting quality.
Full recap
Q1 2026 Apr 23, 2026

American Express delivered a strong Q1 2026, with 11% topline growth and an 18% increase in EPS, driven by robust cardmember spending and international expansion. The company remains confident in its FY2026 outlook, reaffirming growth targets amid ongoing strategic investments.

Key takeaways
  • Revenue grew 11% (10% FX-adjusted), with quarterly EPS reaching $4.28, up 18% YoY, supported by record high cardmember spending growth.
  • International billings extended double-digit growth for the 20th straight quarter; U.S. premium card spend accelerated post-refresh, maintaining high retention.
  • Over 70% of new accounts are fee-paying, with strong Millennial and Gen Z engagement across global markets.
  • Strategic partnerships expanded, including a multiyear NFL sponsorship and new sports, stadium, and hotel collaborations, enhancing premium member access.
  • Investment in AI capabilities and product innovation progressing, with upcoming solutions targeting business expenses, enhanced security, and deeper platform integrations.
Full recap
Q3 2025 Oct 17, 2025

American Express delivered a robust Q3 2025 performance, with revenues climbing 11% year-over-year to a record $18.4 billion and EPS rising by 19% to $4.14, driven by strong cardmember spending and an effective product refresh strategy.

Key takeaways
  • Cardmember spending accelerated to 9% year-over-year, boosted by retail and travel sectors.
  • The successful launch of refreshed US Consumer and Business Platinum cards has resulted in record account acquisitions and customer engagement.
  • Full-year revenue growth guidance raised to 9-10%, with EPS expected between $15.20 and $15.50.
  • Continued investment in digital capabilities and merchant relationships has enhanced customer experience and engagement.
  • Strategic product enhancements and a diverse premium customer base position AMEX favorably for sustained growth.
Full recap

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