Live: American Express Q2 Earnings Updates

AXP | American Express Q2’25 Earnings Highlights:

• Adj. EPS: $4.08 ✅; UP +17% YoY
• Revenue: $17.9B (Est. $17.5B) ✅; UP +9% YoY
• Comparable Sales: +7.0% [✅]
• Net Income: $2.9B ❌; DOWN -4% YoY
• Billed Business: $416.3B; UP +7% YoY
• Effective Tax Rate: 18.7% (vs. 20.4% YoY)

Q2’25 Outlook:

• • The company is reaffirming its full-year guidance for revenue growth of 8 to 10 percent.
  • Management expects continued strong demand for premium products and robust Card Member spending.

Other Key Q2 Metrics:

• Adj. Operating Expenses: $12.9B; UP +14% YoY
• Provisions for Credit Losses: $1.4B; UP +8% YoY
• Net Write-off Rate: 2.0% (vs. 2.1% YoY)

CEO Commentary:

• Stephen J. Squeri: “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. We saw record Card Member spending in the quarter, demand for our premium products was strong, and our credit performance remained best in class. Based on our strong performance year to date, we are reaffirming our full-year guidance for revenue growth of 8 to 10 percent and EPS of $15.00 to $15.50.”

Strategic Updates:

• American Express announced major updates coming to the Consumer and Business Platinum Cards in the U.S. this fall.
• The new Coinbase One Card will launch on the American Express network.
• The company ranked #1 U.S. Credit Card Mobile App and #1 U.S. Credit Card Website Experience for Customer Satisfaction by J.D. Power.
• American Express ranked #4 on the 2025 Best Companies to Work For® in the U.S. list by Great Place to Work®.

American Express shares are up 1.6% in premarket trading as of 7:23 a.m. ET following the release of Q2 earnings this morning.

Here are some highlights from the quarter that Wall Street is watching closely:

• American Express Hits Record Revenue in Q2 with $17.9 Billion
• AmEx’s Adjusted EPS Surges 17%, Beating Estimates
• Card Member Spending Reaches New Heights, Up 7% Year-Over-Year
• American Express Reaffirms Strong Full-Year Guidance
• CEO Squeri Confident in Premium Card Market Leadership

“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

“Looking at the upcoming refresh of our U.S. Consumer and Business Platinum Cards this fall, we are confident in our ability to sustain our leadership in the premium space, drawing on our competitive strengths.”

– Stephen J. Squeri