American Express (AXP) Q2 2025 Earnings
How Did AXP Stock React to Q2 2025 Earnings?
S&P 500 over the same 30 days: +1.95%.
Did AXP Beat Earnings? Q2 2025 Results
Yes. American Express reported Q2 2025 earnings of $4.08 a share on Jul 18, 2025, beating the $3.86 consensus estimate by 5.6%. Revenue was $17.9B against a $17.7B estimate.
American Express delivered a strong second quarter, with <a href="https://247wallst.com/investing/2025/07/18/live-american-express-q2-earnings-updates/">record results across key metrics</a> as earnings per share of $4.08 beat the $3.86 consensus by 5.61% and revenue of $17.86 billion edged past estimates by 0.87%. The headline revenue figure represented a 2.9% decline year over year on a reported basis, though the company emphasized underlying growth of 9% driven by record Card Member spending, a 20% surge in net card fees to $2.48 billion, and a 12% rise in net interest income to $4.19 billion. Billed business hit a quarterly record of $416.30 billion, up 7% year over year, with International Card Services leading segment growth at 15%. Credit quality held firm, with the net write-off rate improving to 2.0%. As competition in the premium card space intensifies, management reaffirmed full-year 2025 guidance for 8% to 10% revenue growth and EPS of $15.00 to $15.50, with a planned Platinum Card refresh this fall seen as a key catalyst heading into year-end.
- Record Card Member spending with billed business up 7% YoY to $416.3 billion
- Net card fees grew 20% YoY to $2.48 billion driven by strong premium product demand
- Net interest income increased 12% YoY to $4.19 billion supported by revolving loan balance growth
- Discount revenue rose 6% YoY to $9.36 billion
- International Card Services billed business grew 15% YoY (12% FX-adjusted)
- Credit performance remained best-in-class with net write-off rate improving to 2.0% from 2.1%
- Effective tax rate declined to 18.7% from 20.4% due to discrete tax benefits
“Our second-quarter results continued the strong momentum we have seen in our business over the last several quarters, with revenues growing 9 percent year-over-year to reach a record $17.9 billion, and adjusted EPS rising 17 percent.”
American Express CEO, on the earnings call
What Was American Express's Outlook in Q2 2025?
American Express reaffirmed its full-year 2025 guidance for revenue growth of 8 to 10 percent and earnings per share of $15.00 to $15.50. The company also announced major updates coming to U.S. Consumer and Business Platinum Cards in the fall of 2025, expressing confidence in sustaining leadership in the premium space with a long runway for growth driven by the differentiated Membership model and expansion of the premium category.
AXP YoY Financials
| Metric | Q2 2025 | Q2 2024 | Year over year |
|---|---|---|---|
| Revenue | $17.9B | $18.4B | −2.9% |
| Net Income | $2.9B | $3.0B | −4.3% |
| Operating Income | $3.6B | $3.8B | −6.3% |
AXP Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.