Q3 25 EPS
$4.14
BEAT +3.61%
Est. $4.00
Q3 25 Revenue
$18.43B
BEAT +2.09%
Est. $18.05B
vs S&P Since Q3 25
-13.6%
TRAILING MARKET
AXP -5.2% vs S&P +8.5%
Market Reaction
Did AXP Beat Earnings? Q3 2025 Results
American Express capped off a record third quarter, posting earnings per share of $4.14 against a consensus estimate of $4.00, a 3.61% beat, while revenue of $18.43 billion topped expectations of $18.05 billion by 2.09% and climbed 11% year-over-year… Read more American Express capped off a record third quarter, posting earnings per share of $4.14 against a consensus estimate of $4.00, a 3.61% beat, while revenue of $18.43 billion topped expectations of $18.05 billion by 2.09% and climbed 11% year-over-year to a quarterly high. The standout driver was the successful refresh of the U.S. Consumer and Business Platinum Cards, with CEO Stephen Squeri noting that new Platinum account acquisitions doubled compared to pre-refresh levels, validating Amex's strategy of periodic product upgrades to sustain its premium positioning. Net card fees surged 18% to $2.55 billion, Card Member spend growth accelerated to 9%, and net income rose 16% to $2.90 billion, reflecting broad momentum across all four business segments. Institutional investors have taken notice, with some managers adding to their AXP positions ahead of the print. Encouraged by the quarter's performance, management raised full-year 2025 guidance to revenue growth of 9% to 10% and EPS of $15.20 to $15.50, signaling continued confidence in the durability of its Membership Model.
Key Takeaways
- • Card Member spend growth accelerated to 9% (8% FX-adjusted)
- • Higher net interest income supported by growth in revolving loan balances
- • Continued strong net card fee growth of 18% year-over-year
- • Discount revenue growth of 7% year-over-year
- • Best-in-class credit metrics with 1.9% net write-off rate flat year-over-year
- • Average fee per card increased 13% year-over-year to $119
AXP YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
AXP Revenue by Segment
With YoY comparisons, source: SEC Filings
“We delivered a very strong quarter, with revenues growing 11 percent year-over-year to a record $18.4 billion, and EPS rising 19 percent to $4.14. Card Member spend growth accelerated to 8 percent on an FX-adjusted basis, and our credit metrics remained best-in-class.”
— Stephen J. Squeri, Q3 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% |