American Express Reports 9% Revenue Growth and 28% Increase in Net Income for Q3 2026

American Express Company reported strong financial performance for the third quarter of 2026, with total revenues net of interest expense reaching $20.1 billion, a 9% increase from $18.4 billion in the same period last year. The company's net income also saw significant growth, rising to $3.7 billion, or $5.42 per diluted share, compared to $2.9 billion, or $4.14 per share, in the prior year, marking a 28% increase in net income and a 31% increase in earnings per share. For the nine months ended September 30, 2026, total revenues net of interest expense were $58.6 billion, up 10% from $53.2 billion in 2025, while net income increased to $9.8 billion from $8.4 billion.

The company attributed its growth to a combination of factors, including an 8% increase in billed business, which reached $454 billion, driven by strong consumer spending in both Goods & Services and Travel & Entertainment categories. Notably, U.S. Consumer Services billed business grew by 9%, supported by spending from Millennial and Gen-Z Card Members. Additionally, American Express reported a decrease in provisions for credit losses, which fell to $985 million from $1.3 billion a year earlier, reflecting improved credit performance and a reserve release compared to a reserve build in the prior period.

Strategically, American Express completed the sale of its equity interest in Global Business Travel Group, Inc. for a pre-tax gain of $982 million, which contributed to its financial results. The company also continued to invest in efficiency initiatives, resulting in a restructuring charge of $336 million during the quarter. Furthermore, American Express expanded its customer base, with cards-in-force increasing to 155.4 million, up from 151.2 million a year ago, and proprietary cards-in-force rising to 87.5 million.

Looking ahead, American Express expressed confidence in its ability to sustain growth despite potential macroeconomic uncertainties. The company plans to continue returning capital to shareholders, having returned $2.2 billion in the form of share repurchases and dividends during the quarter. The firm maintains a Common Equity Tier 1 capital ratio of 10.9%, within its target range, and aims to support balance sheet growth while managing capital effectively. American Express remains focused on enhancing its premium customer offerings and expanding its market presence, particularly among younger demographics.