American Express posts Q3 profit beat and raises 2026 profit forecast on resilient affluent spending
What happened
American Express reported record third-quarter revenue of $20.1B (+9% YoY) and net income of $3.7B (+28%), with adjusted EPS of $4.68 beating the ~$4.50 consensus (+13% YoY) and GAAP EPS of $5.42 boosted by a gain from selling its stake in Global Business Travel Group. Total card spending (billed business) rose 8% to $454B on affluent customers' travel, dining, and shopping. The company raised its 2026 profit forecast to $18.30-$18.60 per share (from $17.30-$17.90) — with adjusted guidance narrowed to $17.60-$17.90 — and stayed on track for 10% full-year revenue growth.
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Who’s affected
- American Express (AXP) — record quarter: Q3 revenue $20.1B (+9%), GAAP EPS $5.42 (+31% on a Global Business Travel stake-sale gain), adjusted EPS $4.68 vs $4.50 expected (+13% YoY); raised FY guidance; shares +0.6% to +0.8% premarket around $326. Card/payment peers and consumer-discretionary lenders — Amex's provisions for credit losses fell to $1.0B from $1.3B a year ago with the net write-off rate edging down to 1.8%, reinforcing the 'consumer resilience' read across financials.