American Express reports stronger financial services performance, with no analyst estimate data included in the release.
Stock Earnings Results
July 24, 2026
Table of Contents
July 24, 2026
American Express Company (NYSE: AXP) reported second-quarter 2026 results with higher revenue, higher earnings per share, stronger Card Member spending, improved credit loss provisions, and an increase to its full-year revenue growth outlook.
American Express is a global payments and premium lifestyle company that provides credit cards, charge cards, merchant services, travel benefits, rewards programs, business payments, and financial services to consumers and businesses.
Total revenues net of interest expense increased 10% year-over-year to $19.64 billion.
Net income increased to $3.11 billion from $2.89 billion in the prior-year quarter.
Diluted EPS increased 11% to $4.53 from $4.08.
Pretax income increased 15% to $4.07 billion.
Billed business increased 9% on an FX-adjusted basis to $455.8 billion.
The company said revenue growth was driven mainly by higher Card Member spending, higher net interest income from card balance growth, and strong card fee growth.
Card Member spending increased 9% on an FX-adjusted basis.
CEO Stephen Squeri said this was the highest spending growth rate the company has seen in three years.
The company said investments in its value propositions helped accelerate spending and revenue growth.
American Express also said its Platinum portfolio is now the fastest-growing area in its U.S. Consumer business.
The company continued to attract new customers, especially Millennials and Gen-Z customers.
Consolidated provisions for credit losses declined to $1.1 billion from $1.4 billion a year earlier.
The decrease reflected a reserve release during the quarter, compared with a reserve build in the prior-year period.
That was partly offset by higher net write-offs.
The second-quarter net write-off rate was 2.0%, flat from the prior-year quarter.
Consolidated expenses increased 12% year-over-year to $14.5 billion.
The increase was driven mainly by higher variable customer engagement costs tied to higher Card Member spending, the U.S. Platinum Card refresh, greater use of Card Member benefits, and higher operating expenses.
The effective tax rate increased to 23.6% from 18.7% a year earlier, mainly because the prior-year period benefited from discrete tax items.
American Express raised its full-year 2026 revenue growth guidance to 10%.
The company said first-half performance was better than expected and plans to reinvest the outperformance into growth initiatives.
American Express maintained its full-year EPS outlook of $17.30 to $17.90.
Management said the company continues to see significant opportunities ahead through its Membership Model, premium products, customer engagement, and partnerships.
American Express announced the proposed acquisition of TheFork, a European restaurant booking platform with 50,000 restaurants across 11 countries.
The company also piloted a new expense management platform for middle-market customers.
American Express enabled Membership Rewards points redemption for U.S. Card Members checking out with Apple Pay.
The company introduced new travel benefits for Delta SkyMiles Card Members and announced partnerships with Fanatics and ALL Accor.
American Express delivered a solid quarter with stronger spending and higher revenue.
EPS rose 11%, revenue increased 10%, Card Member spending growth reached its strongest pace in three years, and credit performance improved. The company also raised its full-year revenue growth outlook while maintaining its EPS guidance.
The key question is whether American Express can keep attracting premium customers and younger cardholders while managing higher engagement costs and credit risk.
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