Companies /Financial Services

American Express Company

NYSE: AXP Credit Services
$324.48
▼ $3.31 (−1.01%) today
Markets open · 3:17pm ET

Q2 2026 Earnings

Reported Jul 24, 2026, 7:00am ET · SEC source
$4.53
Beat +2.88%
EPS · est. $4.40
$19.6B
Miss −0.33%
Revenue · est. $19.7B
−0.7%
Trailing market
AXP vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−3%0+3%Jul 24Jul 24report 7:00am ETearnings−0.3%−1.5%
−3%0+3%Jul 24Jul 24earnings−0.3%−1.5%
AXP −1.5%S&P 500 −0.3%
−3%0+3%Jul 24Jul 24report 7:00am ETearnings−1.4%−1.5%
−3%0+3%Jul 24Jul 24earnings−1.4%−1.5%
AXP −1.5%NASDAQ −1.4%
−3%0+3%Jul 23Jul 31report 7:00am ETearnings+0.5%+2.7%
−3%0+3%Jul 23Jul 31earnings+0.5%+2.7%
AXP +2.7%S&P 500 +0.5%
−4%0+4%Jul 23Jul 31report 7:00am ETearnings−1.4%+2.7%
−4%0+4%Jul 23Jul 31earnings−1.4%+2.7%
AXP +2.7%NASDAQ −1.4%
−4.30%
Day of report
+2.83%
Next session
+3.09%
One week
+3.00%
30 days

S&P 500 over the same 30 days: +3.65%.

Did AXP Beat Earnings? Q2 2026 Results

American Express posted a nuanced but broadly encouraging second quarter of 2026, with earnings per share of $4.53 beating the consensus estimate of $4.40 by 2.88%, even as revenue of $19.64 billion came in just shy of the $19.70 billion analysts had expected, a modest 0.33% miss. The top-line result still reflected 10% growth in revenues net of interest expense year-over-year, driven by a 9% rise in billed business to $455.80 billion, the strongest spending growth rate in three years on an FX-adjusted basis, alongside robust card fee expansion and growing net interest income from higher card balances. Net income climbed 8% to $3.11 billion, with EPS advancing 11% as share count reductions amplified per-share gains. Credit quality remained a quiet strength, with the net write-off rate holding flat at 2.0% and provisions falling to $1.10 billion from $1.40 billion a year ago. With the stock down roughly 10% this year entering the print, management's decision to raise full-year revenue growth guidance to 10% while maintaining EPS guidance of $17.30 to $17.90 signals deliberate reinvestment over short-term earnings optimization.

Key Takeaways
  • Card Member spending growth of 9%, highest in three years on FX-adjusted basis
  • Higher net interest income supported by growth in card balances
  • Strong card fee growth
  • Provisions for credit losses decreased due to reserve release vs. prior-year reserve build
  • Net write-off rate flat at 2.0%
  • Average diluted shares outstanding decreased 3% year-over-year

“We had another excellent quarter, with 10 percent revenue growth, EPS of $4.53, and Card Member spending growth of 9 percent, the highest rate we've seen in three years on an FX-adjusted basis. Based on our better-than-expected performance in the first half of the year, we are raising our full-year revenue growth guidance to 10 percent and plan to reinvest this outperformance in growth initiatives given the significant opportunities we see ahead. We continue to expect full-year EPS of $17.30 to $17.90.”

American Express CEO, on the earnings call

Forward Guidance & Outlook

American Express raised its full-year 2026 revenue growth guidance to 10% (from prior guidance), driven by better-than-expected first-half performance. The company plans to reinvest the outperformance into growth initiatives. Full-year 2026 EPS guidance is maintained at $17.30 to $17.90. Management indicated stronger-than-expected momentum in Card Member spending, credit quality, and new customer acquisition, particularly among Millennials and Gen-Z demographics.

AXP YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$6.0B$12.0B$18.0B$19.9B$19.6BRevenue$2.9B$3.1BNet Income$3.5B$4.1BOperating Income
$0$6.0B$12.0B$18.0BRevenueNet IncomeOperating Income

AXP Revenue by Segment

U.S. Consumer Services
Commercial Services
International Card Services
Global Merchant and Network Services

Figures from SEC filings and company reports. Not investment advice.