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Live: American Express Q2 Earnings Updates

By Eric Bleeker · Updated Jul 18, 9:42am ET · Published Jul 18, 7:19am ET

Live Updates

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AXP Opens Lower

The Main Highlights of AXP's Earnings

Eric Bleeker

AXP | American Express Q2’25 Earnings Highlights:

  • Adj. EPS: $4.08 ✅; UP +17% YoY
  • Revenue: $17.9B (Est. $17.5B) ✅; UP +9% YoY
  • Comparable Sales: +7.0% [✅]
  • Net Income: $2.9B ❌; DOWN -4% YoY
  • Billed Business: $416.3B; UP +7% YoY
  • Effective Tax Rate: 18.7% (vs. 20.4% YoY)

Q2’25 Outlook:

    • The company is reaffirming its full-year guidance for revenue growth of 8 to 10 percent.
    • Management expects continued strong demand for premium products and robust Card Member spending.

Other Key Q2 Metrics:

  • Adj. Operating Expenses: $12.9B; UP +14% YoY
  • Provisions for Credit Losses: $1.4B; UP +8% YoY
  • Net Write-off Rate: 2.0% (vs. 2.1% YoY)

CEO Commentary:

  • Stephen J. Squeri: “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. We saw record Card Member spending in the quarter, demand for our premium products was strong, and our credit performance remained best in class. Based on our strong performance year to date, we are reaffirming our full-year guidance for revenue growth of 8 to 10 percent and EPS of $15.00 to $15.50.”

Strategic Updates:

  • American Express announced major updates coming to the Consumer and Business Platinum Cards in the U.S. this fall.
  • The new Coinbase One Card will launch on the American Express network.
  • The company ranked #1 U.S. Credit Card Mobile App and #1 U.S. Credit Card Website Experience for Customer Satisfaction by J.D. Power.
  • American Express ranked #4 on the 2025 Best Companies to Work For® in the U.S. list by Great Place to Work®.

AXP Stock Now Up 1.6%

Eric Bleeker

American Express shares are up 1.6% in premarket trading as of 7:23 a.m. ET following the release of Q2 earnings this morning.

Here are some highlights from the quarter that Wall Street is watching closely:

  • American Express Hits Record Revenue in Q2 with $17.9 Billion
  • AmEx’s Adjusted EPS Surges 17%, Beating Estimates
  • Card Member Spending Reaches New Heights, Up 7% Year-Over-Year
  • American Express Reaffirms Strong Full-Year Guidance
  • CEO Squeri Confident in Premium Card Market Leadership

Executive Quotes

Eric Bleeker

“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.”

– Stephen J. Squeri

“Looking at the upcoming refresh of our U.S. Consumer and Business Platinum Cards this fall, we are confident in our ability to sustain our leadership in the premium space, drawing on our competitive strengths.”

– Stephen J. Squeri

Live coverage has ended. The full story is below.

Full Coverage

The story so far

American Express (NYSE: AXP) just released earnings and beat on the top and bottom line. Shares are up about 1% shortly after their earnings release. 

We’ll be following along Wall Street’s reaction and offering analysis of the company’s Q2 earnings in this live blog. 

What Did American Express Report?

American Express reported record second-quarter revenue of $17.9 billion, marking a 9% increase year-over-year. The company achieved an adjusted earnings per share (EPS) of $4.08, which is a 17% increase when excluding the previous year’s gain from the sale of Accertify.

Despite a slight decline in net income to $2.9 billion from $3.0 billion the previous year, card member spending reached a quarterly high, increasing by 7%. The company reaffirmed its full-year 2025 guidance, expecting revenue growth between 8% and 10% and EPS between $15.00 and $15.50. CEO Stephen J. Squeri highlighted the strong demand for premium products and robust credit performance. American Express plans to refresh its U.S. Consumer and Business Platinum Cards, aiming to maintain its leadership in the premium space.

The Numbers That Matter

Here’s the revenue and EPS figures for American Express relative to Wall Street expectations in Q2:

  • Revenue: $17.9 billion (versus expectations of $17.7 billion) 
  • EPS: $4.08 (versus expectations of $3.88 per share) 

Contact [email protected] for any questions or corrections.

Eric Bleeker

Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.

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