Credit card giant American Express (AXP) has reported mixed second-quarter financial results.
The New York City-based company announced earnings per share of $4.53 U.S., which beat Wall Street’s forecast of $4.40 U.S.
However, revenue in the spring quarter totaled $19.64 billion U.S., slightly missing analysts’ consensus expectation of $19.69 billion U.S. Sales were up 10% from a year earlier.
Overall spending by cardmembers rose 9% on a foreign-exchange adjusted basis during the quarter.
In terms of guidance, American Express said it now expects full-year revenue growth of 10%, up slightly from a previous outlook of 9% to 10% growth.
The company maintained its 2026 profit guidance that calls for earnings per share of $17.30 U.S. to $17.90 U.S.
Wall Street closely watches American Express’ financial results as the company’s credit cards are widely used by high income earners and large corporations.
Stephen Squeri, the CEO of American Express, said in the earnings release that Amex saw stronger momentum than expected during the year’s first half.
He added that the company has been attracting more new customers, particularly among younger consumers.
AXP stock has gained 11% in the past 12 months to trade at $340.84 U.S. per share.
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