American Express (AXP) Q3 2026 Earnings
Excludes $982 million pre-tax gain ($751 million after-tax) from sale of equity interest in GBTG, net of $336 million pre-tax restructuring charge ($253 million after-tax) related to efficiency initiatives. Also reflects discrete tax benefits from resolution of prior-period tax items reducing the effective tax rate to 18.1% from 24.1%.
How Did AXP Stock React to Q3 2026 Earnings?
Did AXP Beat Earnings? Q3 2026 Results
Yes. American Express reported Q3 2026 earnings of $4.68 a share on Oct 23, 2026, beating the $4.51 consensus estimate by 3.9%. Revenue was $20.1B against a $20.1B estimate.
American Express posted a solid beat on the bottom line in Q3 2026, with adjusted EPS of $4.68 clearing the $4.51 Wall Street consensus by 3.85%, even as revenue of $20.06 billion edged just below the $20.12 billion estimate, a year-over-year decline of 2.4%. The profit outperformance was driven in meaningful part by a sharp drop in the effective tax rate to 18.1% from 24.1% a year ago, reflecting discrete tax benefits from the resolution of prior-period items, alongside a significant reduction in credit loss provisions to $1.00 billion from $1.30 billion as the net write-off rate improved to 1.8%. Card Member billed business of $454.00 billion, up 8% year-over-year, and continued growth in card fees and net interest income underscored the durability of the company's premium-card model, a dynamic investors had been watching closely ahead of the print. Management responded with raised full-year 2026 adjusted EPS guidance of $17.60 to $17.90, representing 14% to 16% growth, while reaffirming a 10% revenue growth target for the year.
- Higher Card Member spending with billed business of $454 billion, up 8% YoY
- Increased net interest income supported by growth in card balances
- Strong card fee growth
- Reserve release versus reserve build a year ago
- Net write-off rate improved to 1.8% from 1.9% YoY
- Lower effective tax rate of 18.1% versus 24.1% a year ago due to discrete tax benefits
- $982 million pre-tax gain from GBTG equity interest sale
“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.”
American Express CEO, on the earnings call
What Is American Express's Outlook?
American Express raised full-year 2026 GAAP EPS guidance to $18.30–$18.60 (up from prior guidance), representing 19–21% growth over FY 2025 EPS of $15.38. On an adjusted basis (excluding the GBTG sale gain net of restructuring), FY 2026 EPS is guided to $17.60–$17.90, representing 14–16% growth. The company reaffirmed it is on track to deliver another year of 10% revenue growth.
AXP YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $20.1B | $20.6B | −2.4% |
| Net Income | $3.7B | $2.9B | +27.9% |
| Operating Income | $4.5B | $3.8B | +18.5% |
AXP Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.