Outlook
AMERICAN EXPRESS RAISES FY 2026 REVENUE GROWTH GUIDANCE TO 10%Guidance raised
Results
Q2 REVENUE INCREASED 10% WITH CARD MEMBER SPENDING GROWTH OF 9%
Q2 EARNINGS PER SHARE OF $4.53 ROSE 11%
6American Express Company (NYSE: AXP) today reported second-quarter 2026 net income of $3.1 billion, compared with net income of $2.9 billion a year ago.
7Earnings per share was $4.53, up 11 percent from $4.08 a year ago.
Management commentary
2Stephen J. SqueriChairman and Chief Executive Officer “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.
1Based 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.Guidance raised
We continue to expect full-year EPS of $17.30 to $17.90.Guidance reaffirmed
“Six months into the year, we’re seeing stronger momentum than we expected.
The investments we made in our value propositions have driven accelerated spend and revenue growth; our Platinum portfolio is now the fastest growing in our U.S. Consumer business; our best-in-class credit performance further strengthened; and we continued to attract a large number of new customers, particularly Millennials and Gen-Zs who represent greater lifetime value.
“We are competing from a position of strength and generating momentum that enables us to continue investing in our differentiated Membership Model, which reinforce our confidence in our ability to drive sustainable growth and shareholder returns over the long term.”
Results
8Second-quarter consolidated total revenues net of interest expense were $19.6 billion, up 10 percent year-over-year.
The increase was primarily driven by higher Card Member spending and increased net interest income supported by growth in card balances, as well as strong card fee growth.
Consolidated provisions for credit losses were $1.1 billion, compared with $1.4 billion a year ago.
5The decrease reflected a reserve release during the quarter compared to a reserve build in the prior year, partially offset by higher net write-offs.
4The second-quarter net write-off rate was 2.0 percent, flat year-over-year.
3 Consolidated expenses were $14.5 billion, up 12 percent year-over-year.
The increase was primarily driven by higher variable customer engagement costs due to increased Card Member spending, the U.S. Platinum Card ® refresh, and usage of Card Member benefits, as well as higher operating expenses.
3The consolidated effective tax rate was 23.6 percent, up from 18.7 percent a year ago, primarily reflecting discrete tax benefits in the prior year.• American Express announced the proposed acquisition of TheFork , a leading European restaurant booking platform with 50,000 restaurants across 11 countries. • The company piloted its new expense management platform to an initial group of middle-market customers. • American Express enabled Membership Rewards ® points redemption for U.S. Card Members checking out with Apple Pay . • The company introduced new travel benefits for Delta SkyMiles Card Members. • American Express became the Official Payments Partner of Fanatics across select Fanatics online and retail locations worldwide. • American Express announced a new global partnership with ALL Accor , the booking and loyalty platform for Accor’s portfolio of 45 worldwide brands, including Raffles, Fairmont, and Sofitel. • The company ranked #1 in the JD Powe r 2026 U.S. Credit Card Mobile App & Online Satisfaction Studies.
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