Q1 26 EPS
$4.28
Q1 26 Revenue
$18.91B
BEAT +1.61%
Est. $18.61B
vs S&P Since Q1 26
-6.4%
TRAILING MARKET
AXP -4.6% vs S&P +1.7%
Market Reaction
Did AXP Beat Earnings? Q1 2026 Results
American Express posted a confident start to 2026, with first-quarter earnings per share of $4.28 beating the $3.99 consensus estimate by 7.24%, as net income climbed 15% to $2.97 billion and revenue reached $18.91 billion, edging past the $18.61 bil… Read more American Express posted a confident start to 2026, with first-quarter earnings per share of $4.28 beating the $3.99 consensus estimate by 7.24%, as net income climbed 15% to $2.97 billion and revenue reached $18.91 billion, edging past the $18.61 billion estimate by 1.61%. The headline revenue figure was essentially flat year-over-year at -0.1% on a reported basis, but the filing context tells a richer story: billed business of $428.00 billion, up 10% from $387.40 billion a year ago, drove higher Card Member spending, net interest income, and card fee growth simultaneously, giving all three revenue pillars a meaningful lift in the quarter. Share repurchases provided additional EPS momentum, with average diluted shares falling to 686 million from 702 million. The company's recent push into AI-driven commercial tools, including its acquisition of expense management startup Hypercard, adds a longer-term dimension to the growth narrative. Management reaffirmed full-year 2026 guidance for 9% to 10% revenue growth and EPS of $17.30 to $17.90, signaling measured confidence heading into a still-uncertain macro environment.
Key Takeaways
- • Card Member spending growth accelerated to 10% (9% FX-adjusted), the highest quarterly growth in three years
- • Increased net interest income supported by growth in card balances
- • Strong card fee growth
- • Net write-off rate improved to 2.0% from 2.1% a year ago
- • Lower effective tax rate of 21.4% vs 22.4% a year ago due to discrete tax benefits
- • Average diluted shares outstanding declined 2% year-over-year
AXP Forward Guidance & Outlook
American Express reaffirmed its full-year 2026 guidance for revenue growth of 9 to 10 percent and earnings per share of $17.30 to $17.90. The company also announced plans to increase investments in marketing and technology to capitalize on long-term growth opportunities.
AXP YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
AXP Revenue by Segment
With YoY comparisons, source: SEC Filings
“We had a very strong start to the year, reflecting continued momentum across our premium customer base and execution of our proven growth strategy. We delivered 10 percent FX-adjusted revenue growth and 18 percent EPS growth in the quarter. Card Member spending grew 9 percent FX-adjusted, the highest quarterly growth in three years, driven by strong demand and engagement with our premium products. Our credit performance remained excellent.”
— Stephen J. Squeri, Q1 2026 Earnings Press Release
AXP Earnings Trends
AXP vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AXP EPS Trend
Earnings per share: estimate vs actual
AXP Revenue Trend
Quarterly revenue: estimate vs actual
AXP Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $4.28 | — | $18.91B | +1.61% |
| Q4 25 MISS FY | $3.55 | $3.53 | -0.56% | $18.98B | +49.28% |
| FY Full Year | $15.40 | $15.38 | -0.14% | $72.23B | +0.13% |
| Q3 25 BEAT | $4.00 | $4.14 | +3.61% | $18.43B | +2.09% |
| Q2 25 BEAT | $3.86 | $4.08 | +5.61% | $17.86B | +0.87% |
| Q1 25 BEAT | $3.47 | $3.64 | +4.80% | $16.97B | +0.23% |