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Amerant Bancorp (NYSE:AMTB) Hits New 1-Year High After Better-Than-Expected Earnings
- On Friday, American Express raised its 2026 profit forecast after reporting strong third-quarter results, now expecting annual profit between $18.30 and $18.60 per share.
- Revenue climbed 9% to $20.1 billion, driven by an 8% increase in billed business to $454 billion as affluent customers spent heavily on travel and entertainment, which grew 10% year-over-year.
- To streamline operations, the company took a $336 million restructuring charge eliminating approximately 5% of global positions. AmEx also acquired 3.1 million new cards, with 76% on fee-paying products.
- AmEx CEO Stephen Squeri announced an exclusive partnership bringing over 1 million Airbnb listings into the Amex Travel program. The firm is also deploying AI-driven voice agents to automate transactions and personalize service.
- Management remains focused on acquiring high-spending, creditworthy customers to sustain momentum into 2027. Variable Customer Engagement growth is expected to moderate in the fourth quarter following the U.S. Platinum Card refresh.
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American Express Falls 3% Despite Q3 Beat and Higher Profit Floor; Visa and Mastercard Slip
American Express just raised its profit floor and reported a clean earnings beat, yet shareholders are selling hard while Visa and Mastercard barely flinch. Something in the fine print is spooking investors, and the answer comes down to one revenue line and a tax rate that may not repeat.
·Lakewood, United States
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American Express raises 2026 profit forecast as affluent customers keep ...
·London, United Kingdom
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Total News Sources11
Leaning Left1Leaning Right3Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
13%
C 50%
R 37%
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