Q2 25 EPS
$4.08
BEAT +5.61%
Est. $3.86
Q2 25 Revenue
$17.86B
BEAT +0.87%
Est. $17.70B
vs S&P Since Q2 25
-9.5%
TRAILING MARKET
AXP +5.3% vs S&P +14.8%
Market Reaction
Did AXP Beat Earnings? Q2 2025 Results
American Express delivered a strong second quarter, with record results across key metrics as earnings per share of $4.08 beat the $3.86 consensus by 5.61% and revenue of $17.86 billion edged past estimates by 0.87%. The headline revenue figure repre… Read more American Express delivered a strong second quarter, with record results across key metrics as earnings per share of $4.08 beat the $3.86 consensus by 5.61% and revenue of $17.86 billion edged past estimates by 0.87%. The headline revenue figure represented a 2.9% decline year over year on a reported basis, though the company emphasized underlying growth of 9% driven by record Card Member spending, a 20% surge in net card fees to $2.48 billion, and a 12% rise in net interest income to $4.19 billion. Billed business hit a quarterly record of $416.30 billion, up 7% year over year, with International Card Services leading segment growth at 15%. Credit quality held firm, with the net write-off rate improving to 2.0%. As competition in the premium card space intensifies, management reaffirmed full-year 2025 guidance for 8% to 10% revenue growth and EPS of $15.00 to $15.50, with a planned Platinum Card refresh this fall seen as a key catalyst heading into year-end.
Key Takeaways
- • Record Card Member spending with billed business up 7% YoY to $416.3 billion
- • Net card fees grew 20% YoY to $2.48 billion driven by strong premium product demand
- • Net interest income increased 12% YoY to $4.19 billion supported by revolving loan balance growth
- • Discount revenue rose 6% YoY to $9.36 billion
- • International Card Services billed business grew 15% YoY (12% FX-adjusted)
- • Credit performance remained best-in-class with net write-off rate improving to 2.0% from 2.1%
- • Effective tax rate declined to 18.7% from 20.4% due to discrete tax benefits
AXP YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
AXP Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our second-quarter results continued the strong momentum we have seen in our business over the last several quarters, with revenues growing 9 percent year-over-year to reach a record $17.9 billion, and adjusted EPS rising 17 percent.”
— Stephen J. Squeri, Q2 2025 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% |