Q2 26 EPS
$4.53
BEAT +2.88%
Est. $4.40
Q2 26 Revenue
$19.64B
MISS 0.33%
Est. $19.70B
vs S&P Since Q2 26
-4.2%
TRAILING MARKET
AXP +0.3% vs S&P +4.5%
Market Reaction
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… Read more 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
AXP 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, source: SEC Filings
AXP Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Stephen J. Squeri, Q2 2026 Earnings Press Release
AXP Earnings Trends
AXP vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AXP EPS Trend
Earnings per share: estimate vs actual
AXP Revenue Trend
Quarterly revenue: estimate vs actual
AXP Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $4.40 | $4.53 | +2.88% | $19.64B | -0.33% |
| Q1 26 BEAT | $3.99 | $4.28 | +7.24% | $18.91B | +1.61% |
| Q4 25 MISS FY | $3.53 | $3.53 | -0.10% | $18.98B | +0.28% |
| FY Full Year | $15.40 | $15.38 | -0.14% | $72.23B | +0.13% |
| Q3 25 BEAT | $4.00 | $4.14 | +3.61% | $18.43B | +2.09% |
| Q2 25 BEAT | $3.86 | $4.08 | +5.61% | $17.86B | +0.87% |
| Q1 25 BEAT | $3.47 | $3.64 | +4.80% | $16.97B | +0.23% |