Companies /Financial Services

American Express Company

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

Q4 2025 Earnings

Reported Jan 30, 2026, 7:00am ET · SEC source
$3.53
Miss −0.10%
EPS · est. $3.53
$19.0B
Beat +0.28%
Revenue · est. $18.9B
−10.6%
Trailing market
AXP vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%−2%0Jan 30Jan 30report 7:00am ETearnings−0.3%−2.4%
−4%−2%0Jan 30Jan 30earnings−0.3%−2.4%
AXP −2.4%S&P 500 −0.3%
−4%−2%0Jan 30Jan 30report 7:00am ETearnings−1.1%−2.4%
−4%−2%0Jan 30Jan 30earnings−1.1%−2.4%
AXP −2.4%NASDAQ −1.1%
−2%0+2%Jan 29Feb 6report 7:00am ETearnings−0.2%+2.5%
−2%0+2%Jan 29Feb 6earnings−0.2%+2.5%
AXP +2.5%S&P 500 −0.2%
−6%−3%0+3%Jan 29Feb 6report 7:00am ETearnings−2.7%+2.5%
−6%−3%0+3%Jan 29Feb 6earnings−2.7%+2.5%
AXP +2.5%NASDAQ −2.7%
−1.77%
Day of report
+0.19%
Next session
+1.98%
One week
−11.63%
30 days

S&P 500 over the same 30 days: −0.99%.

Did AXP Beat Earnings? Q4 2025 Results

American Express closed out Q4 2025 with a mixed but broadly constructive quarter, delivering earnings per share of $3.53 against a consensus estimate of $3.55, a narrow miss of 0.56%, while revenue of $18.98 billion cleared expectations by a wide margin even as it edged down 1.2% year-over-year. The standout driver behind the quarter's momentum was billed business growth of 9% to $445.10 billion, reflecting durable spending engagement across the card member base, while net card fee revenues extended their double-digit growth streak for the 30th consecutive quarter, underscoring the enduring appeal of the premium membership model. The successful refresh of the U.S. Platinum Card drew heightened demand, though the associated investment costs contributed to consolidated Q4 expenses rising 10% year-over-year to $14.50 billion, adding pressure to the bottom line. Analysts on the earnings call probed the trade-off between near-term margin compression and longer-term product strategy. Looking ahead, management guided for full-year 2026 revenue growth of 9% to 10% and EPS of $17.30 to $17.90, while announcing a 16% dividend increase to $0.95 per share beginning in Q1 2026.

Key Takeaways
  • Card Member spending grew 9% in Q4 (8% FX-adjusted)
  • Net card fee revenues grew double digits for the 30th consecutive quarter
  • Increased net interest income supported by growth in revolving loan balances
  • Strong card fee growth
  • Best-in-class credit metrics with full-year net write-off rate of 2.0%

“2025 was a very strong year for American Express. Full-year revenues grew 10 percent to reach another record, and adjusted EPS increased 15 percent over last year. In the fourth quarter, Card Member spending increased 8 percent FX-adjusted, net card fee revenues grew double digits for the 30th consecutive quarter, and our credit metrics remained best-in-class.”

American Express CEO, on the earnings call

Forward Guidance & Outlook

For full year 2026, American Express expects revenue growth of 9% to 10% and EPS in the range of $17.30 to $17.90. The company plans to increase its quarterly common stock dividend by approximately 16% from $0.82 to $0.95 per share beginning with the Q1 2026 dividend declaration. Management intends to continue executing its investment philosophy to deliver sustained revenue and EPS growth and strong shareholder returns over the long term.

AXP YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$6.0B$12.0B$18.0B$19.2B$19.0BRevenue$2.2B$2.5BNet Income
$0$6.0B$12.0B$18.0BRevenueNet 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.