Companies /Financial Services

American Express Company

NYSE: AXP Credit Services
$324.28
▼ $3.50 (−1.07%) today
Markets open · 3:58pm ET

Q2 2025 Earnings

Reported Jul 18, 2025, 7:02am ET · SEC source
$4.08
Beat +5.61%
EPS · est. $3.86
$17.9B
Beat +0.87%
Revenue · est. $17.7B
−2.6%
Trailing market
AXP vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%−2%0Jul 18Jul 18report 7:02am ETearnings−0.1%−2.8%
−4%−2%0Jul 18Jul 18earnings−0.1%−2.8%
AXP −2.8%S&P 500 −0.1%
−4%−2%0Jul 18Jul 18report 7:02am ETearnings−0.1%−2.8%
−4%−2%0Jul 18Jul 18earnings−0.1%−2.8%
AXP −2.8%NASDAQ −0.1%
−4%−2%0Jul 17Jul 25report 7:02am ETearnings+1.4%−2.0%
−4%−2%0Jul 17Jul 25earnings+1.4%−2.0%
AXP −2.0%S&P 500 +1.4%
−4%−2%0Jul 17Jul 25report 7:02am ETearnings+0.9%−2.0%
−4%−2%0Jul 17Jul 25earnings+0.9%−2.0%
AXP −2.0%NASDAQ +0.9%
−2.35%
Day of report
−1.62%
Next session
+1.19%
One week
−0.60%
30 days

S&P 500 over the same 30 days: +1.95%.

Did AXP Beat Earnings? Q2 2025 Results

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.

Key Takeaways
  • 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

Forward Guidance & Outlook

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

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$6.0B$12.0B$18.0B$18.4B$17.9BRevenue$3.0B$2.9BNet Income$3.8B$3.6BOperating Income
$0$6.0B$12.0B$18.0BRevenueNet IncomeOperating Income

AXP Revenue by Segment

U.S. Consumer Services$8.6B+11.0%
Commercial Services$4.2B+7.0%
International Card Services$3.2B+15.0%
Global Merchant and Network Services$1.9B+3.0%

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