Companies /Financial Services

American Express Company

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

Q3 2025 Earnings

Reported Oct 17, 2025, 7:00am ET · SEC source
$4.14
Beat +3.61%
EPS · est. $4.00
$18.4B
Beat +2.09%
Revenue · est. $18.0B
−1.1%
Trailing market
AXP vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+3%+6%Oct 17Oct 17report 7:00am ETearnings+1.5%+6.4%
0+3%+6%Oct 17Oct 17earnings+1.5%+6.4%
AXP +6.4%S&P 500 +1.5%
0+3%+6%Oct 17Oct 17report 7:00am ETearnings+1.8%+6.4%
0+3%+6%Oct 17Oct 17earnings+1.8%+6.4%
AXP +6.4%NASDAQ +1.8%
0+4%+8%+12%Oct 16Oct 24report 7:00am ETearnings+2.7%+10.4%
0+4%+8%+12%Oct 16Oct 24earnings+2.7%+10.4%
AXP +10.4%S&P 500 +2.7%
0+4%+8%+12%Oct 16Oct 24report 7:00am ETearnings+3.3%+10.4%
0+4%+8%+12%Oct 16Oct 24earnings+3.3%+10.4%
AXP +10.4%NASDAQ +3.3%
+7.27%
Day of report
+0.83%
Next session
+3.16%
One week
−1.72%
30 days

S&P 500 over the same 30 days: −0.65%.

Did AXP Beat Earnings? Q3 2025 Results

American Express capped off a record third quarter, posting earnings per share of $4.14 against a consensus estimate of $4.00, a 3.61% beat, while revenue of $18.43 billion topped expectations of $18.05 billion by 2.09% and climbed 11% year-over-year to a quarterly high. The standout driver was the successful refresh of the U.S. Consumer and Business Platinum Cards, with CEO Stephen Squeri noting that new Platinum account acquisitions doubled compared to pre-refresh levels, validating Amex's strategy of periodic product upgrades to sustain its premium positioning. Net card fees surged 18% to $2.55 billion, Card Member spend growth accelerated to 9%, and net income rose 16% to $2.90 billion, reflecting broad momentum across all four business segments. Institutional investors have taken notice, with some managers adding to their AXP positions ahead of the print. Encouraged by the quarter's performance, management raised full-year 2025 guidance to revenue growth of 9% to 10% and EPS of $15.20 to $15.50, signaling continued confidence in the durability of its Membership Model.

Key Takeaways
  • Card Member spend growth accelerated to 9% (8% FX-adjusted)
  • Higher net interest income supported by growth in revolving loan balances
  • Continued strong net card fee growth of 18% year-over-year
  • Discount revenue growth of 7% year-over-year
  • Best-in-class credit metrics with 1.9% net write-off rate flat year-over-year
  • Average fee per card increased 13% year-over-year to $119

“We delivered a very strong quarter, with revenues growing 11 percent year-over-year to a record $18.4 billion, and EPS rising 19 percent to $4.14. Card Member spend growth accelerated to 8 percent on an FX-adjusted basis, and our credit metrics remained best-in-class.”

American Express CEO, on the earnings call

Forward Guidance & Outlook

American Express raised its full-year 2025 guidance to revenue growth of 9% to 10% and EPS of $15.20 to $15.50, up from prior guidance, reflecting strong year-to-date performance. Management expressed confidence in growth prospects driven by the proven product refresh strategy and continued enhancement of the Membership Model.

AXP YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$6.0B$12.0B$18.0B$18.8B$18.4BRevenue$2.5B$2.9BNet Income$3.2B$3.8BOperating Income
$0$6.0B$12.0B$18.0BRevenueNet IncomeOperating Income

AXP Revenue by Segment

U.S. Consumer Services$8.9B+11.0%
Commercial Services$4.3B+7.0%
International Card Services$3.3B+14.0%
Global Merchant and Network Services$2.0B+7.0%

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