Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
AXP reported Q2 FY2026 net income of $3.110B and diluted EPS of $4.53, supported by 9% billed-business growth, 10% growth in total revenues net of interest expense, lower credit-loss provisions, and continued investment in premium-card benefits. Source: 10-Q Item 2 MD&A, pp.2-6
Revenue
$11.21B
+8.63% YoY
EPS (Diluted)
$4.53
+11.03% YoY
Source: SEC XBRL
American Express (AXP) reported Q2 FY2026 revenue of $11.21B, up 8.6% year over year. AXP's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 4.53 | 4.45 | Beat +1.8% |
| Mar 2026 | 4.28 | 4.06 | Beat +5.3% |
| Dec 2025 | 3.53 | 3.57 | Miss -1.2% |
| Sep 2025 | 4.14 | 4.04 | Beat +2.6% |
Compiled by AI from 10-Q Item 2 of this filing
Total revenues net of interest expense rose 10% year over year to $19.637B, led by a 9% increase in Discount revenue to $10.163B and a 15% increase in net card fees to $2.862B. Management attributed fee growth to premium-card portfolios, new-card acquisitions, retention, and product refreshes.
Source: 10-Q Item 2 MD&A
Billed business increased 9% to $455.8B, as Goods & Services spending grew 9% and Travel & Entertainment spending grew 10%. U.S. Consumer Services billed business grew 11%, Commercial Services grew 5%, and International Card Services grew 13% (12% FX-adjusted).
Source: 10-Q Item 2 MD&A
Provisions for credit losses fell 23% to $1.084B, primarily because AXP recorded reserve releases in Q2 FY2026 versus reserve builds in the prior-year period. The principal-only consumer and small-business net write-off rate remained 2.0%, while the 30+ days past-due rate improved to 1.2% from 1.3%.
Source: 10-Q Item 2 MD&A
Total expenses increased 12% to $14.482B, including a 50% increase in Card Member services expense to $1.949B, reflecting higher benefit usage and new U.S. Platinum benefits. Marketing increased 6% to $1.650B as AXP continued to invest in acquiring, engaging, and retaining high-spending customers.
Source: 10-Q Item 2 MD&A
AXP returned $2.9B to shareholders during the quarter through repurchases and common dividends while maintaining its CET1 ratio within its 10% to 11% target range. The company also announced plans to sell its approximately 30% equity interest in Global Business Travel Group and expects a sizable pre-tax gain in Other expense when the transaction closes.
Source: 10-Q Item 2 MD&A
Compiled by AI from 10-Q Item 1A of this filing · 2 high, 2 medium, 0 low
The filing identifies business, economic, and geopolitical conditions as risks and uncertainties. For AXP, a deterioration in these conditions could adversely affect Card Member spending, payment performance, and the level of credit-loss reserves required.
Source: 10-Q Item 1A
AXP is a bank holding company regulated by the Federal Reserve and is subject to evolving and extensive government regulation and supervision globally. Legislative or regulatory changes could materially adversely affect results of operations and financial condition, according to the MD&A.
Source: 10-Q Item 1A; 10-Q Item 2 MD&A
AXP competes with payment networks, issuers, acquirers, bank-transfer methods, and technology-enabled alternatives for premium customers. The filing notes that the payments industry is changing with technology, business-model, and competitive developments, which could raise customer-acquisition and retention costs.
Source: 10-Q Item 1A; 10-Q Item 2 MD&A
Management specifically cites certain litigation and regulatory matters among factors that could affect the business. In Q2 FY2026, Other expense increased partly because of higher legal reserves, illustrating potential earnings sensitivity to legal developments.
Source: 10-Q Item 1A; 10-Q Item 2 MD&A
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 11.21 $B | 10.32 $B | +8.63% |
Net Income $B | 3.11 $B | 2.89 $B | +7.80% |
EPS (Basic) $ | 4.54 $ | 4.08 $ | +11.27% |
EPS (Diluted) $ | 4.53 $ | 4.08 $ | +11.03% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
American Express delivered a strong Q1 2026 with revenue of $10.5B (+9.3% YoY) and net income of $3.0B (+15.0% YoY), driven by robust card member spending and premium customer growth, though operating cash flow declined 20.2% YoY.
American Express delivered strong FY2025 results with revenue rising 6.4% to $41.3B and net income growing 7.0% to $10.8B, driven by robust operating cash flow of $18.4B and a 9.8% jump in diluted EPS to $15.38.
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