American Express Posts Record Q3 Revenue of $20.1 Billion, Raises Full-Year Profit Forecast as Affluent Spending Holds Up
NEW YORK — American Express reported third-quarter 2026 results on October 23: revenue of $20.1 billion, up 9% year on year and a quarterly record, with net income jumping 28% to $3.7 billion. Diluted earnings per share (GAAP) surged 31% to $5.42, while adjusted EPS climbed 13% to $4.68 from $4.14 a year earlier. Billed business — total spending across all AmEx-issued cards — rose 8% to $454 billion.
Credit quality stayed solid, with consolidated provisions for credit losses of $1 billion, down from $1.3 billion in the year-ago quarter. "Business momentum continues, with strength in billings, new acquisitions and Card Member retention, and excellent credit quality," CEO Stephen Squeri said in a statement. The company raised its full-year 2026 profit forecast to GAAP EPS of $18.30–$18.60, up from $17.30–$17.90 previously.
Reuters noted that AmEx's focus on affluent customers with high credit scores has built a moat against broader economic uncertainty; executives at major U.S. banks reporting earlier this month likewise highlighted consumer resilience across income brackets. AmEx shares edged lower in premarket trading after the release.
(GSM, from the company's official release and Reuters)
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