Published 50 minutes ago • loading... • Updated 50 minutes ago
American Express: Q3 Earnings Snapshot – WTOP News
Higher cardmember spending and strong Platinum Card retention lifted revenue 9% and drove the company to raise full-year profit guidance.
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.