TLDR
- AmEx hits record revenue as spending and earnings momentum stay strong into 2026
- Strong card spending drives AmEx growth despite volatile trading and stock dip
- AmEx posts solid earnings, lifts dividend, and projects steady 2026 growth
- American Express delivers record results as premium card demand remains resilient
- AmEx boosts earnings outlook, expands lounges, and raises dividend for 2026
American Express (AXP) shares advanced into 2026 with record revenue, rising earnings, and resilient card spending, despite a volatile trading session. The stock closed at $351.59, down 1.84%, after an early sell-off and partial rebound. Nevertheless, the company reported strong full-year results, supported by expanding card activity, disciplined expense control, and steady credit performance.
Record Revenue Growth Strengthens Core Business Momentum
American Express delivered full-year 2025 revenue of $72.2 billion, marking a 10 percent annual increase. Growth reflected higher card spending, expanding loan balances, and continued strength in card fees. The company extended its multi-year pattern of consistent revenue gains.
Card member spending climbed 8 percent on an FX-adjusted basis, reinforcing transaction volume momentum. Billed business reached $1.67 trillion, supported by rising travel, lifestyle, and everyday spending. As a result, American Express strengthened its leadership across premium and small business card segments.
Net income reached $10.8 billion, rising 7 percent from the prior year. Diluted earnings per share increased 10 percent to $15.38, while adjusted earnings advanced 15 percent. Therefore, the company delivered strong shareholder returns alongside operational discipline.
Earnings Expansion Driven by Strategic Investment and Cost Control
American Express increased consolidated expenses by 11 percent to $53.2 billion, driven by customer engagement and technology investments. Operating leverage and scale efficiencies preserved strong margin performance. The company balanced growth spending with profitability.
Credit performance remained stable, as provisions for losses reached $5.3 billion, reflecting loan growth and controlled write-offs. The full-year net write-off rate held steady at 2.0 percent. Therefore, the firm sustained best-in-class credit quality through disciplined underwriting.
Fourth-quarter revenue rose 10 percent to $19.0 billion, reflecting strong holiday spending and premium card usage. Quarterly net income reached $2.46 billion, supporting consistent earnings delivery. As a result, management maintained confidence in future growth trends.
Strategic Expansion and Dividend Increase Signal Long-Term Confidence
American Express advanced its growth strategy through expanded technology initiatives, lounge network development, and co-branded partnerships. The company opened its 31st Centurion Lounge and extended its British Airways partnership. It introduced Gen AI tools to enhance customer engagement and digital commerce.
The firm also reinforced its market position through customer satisfaction leadership and operational innovation. Industry rankings placed American Express among the most admired global companies. Brand strength and service differentiation continued to support premium customer acquisition.
Management projected 2026 revenue growth of 9 to 10 percent and earnings per share between $17.30 and $17.90. The company also planned a 16 percent dividend increase to $0.95 per share. American Express positioned itself for sustained earnings expansion and stronger shareholder returns.
Through disciplined execution, operational investment, and consistent customer engagement, American Express reinforced its financial resilience. The company delivered record performance while managing costs and credit exposure effectively. As a result, the firm entered 2026 with a strong platform for continued growth and strategic momentum.
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