American Express Q3 2026: EPS beats, guidance raised to $17.60 to $17.90

As seen on the 24/7 Wall St. homepage on October 23, 2026.

AXP American Express
Q3 2026
EPS
$4.68
est $4.51 +3.9%
Revenue
$20.06B
est $20.12B -0.3%

American Express raised full-year adjusted EPS guidance to $17.60 to $17.90, the number that matters for anyone holding into year-end. Revenue missed expectations, but management is pointing to the premium-card engine and billed business growth.

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Anyone stepping away from American Express now misses a company that keeps beating: adjusted earnings per share of $4.68 for the third quarter of 2026 topped the Wall Street consensus of roughly $4.51. The company has exceeded EPS estimates in seven of the past eight quarters, with the lone miss in Q4 2025.

Revenue of $20.06 billion came in just under the $20.12 billion estimate, missing expectations while declining 2.4% year over year. Management credited the profit strength to billed business of $454 billion, which grew 8% year over year, alongside improved credit performance and a lower effective tax rate.

The adjusted EPS figure excludes a $982 million pre-tax gain from the sale of an equity interest in GBTG as well as a $336 million pre-tax restructuring charge. CEO Stephen Squeri said: "We had another strong quarter, delivering 9 percent revenue growth and EPS of $5.42, or $4.68 adjusted, up 13 percent year-over-year. Our business momentum continues, with strength in billings, new acquisitions and Card Member retention, and excellent credit quality."

Investors holding into year-end now have a higher bar to price in: management lifted full-year 2026 adjusted EPS guidance to $17.60 to $17.90, representing 14% to 16% growth, while reaffirming a 10% revenue growth target. Squeri said the company is "on track to deliver another year of 10 percent revenue growth," signaling the revenue shortfall this quarter is not a trend.

The growth pipeline is widening, with an exclusive Airbnb partnership bringing over one million listings to Amex Travel, an extended Marriott International cobrand agreement, and new Centurion Lounges at Amsterdam Airport Schiphol and Newark Liberty International Airport. The company flagged macroeconomic and geopolitical pressures, pricing regulation, and competition from agentic technologies and alternative payment solutions as risks.

Sources

Mentioned: AXP

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