American Express Reports 11% Revenue Growth and 15% Increase in Net Income for Q1 2026

American Express Company reported strong financial performance for the first quarter of 2026, with total revenues net of interest expense reaching $18.9 billion, an increase of 11% from $17.0 billion in the same period last year. The company’s net income also rose to $3.0 billion, or $4.28 per diluted share, compared to $2.6 billion, or $3.64 per diluted share, in the prior year, reflecting a 15% increase in profitability. The growth in revenues was primarily driven by a 10% increase in billed business, which reached $428 billion, and an 18% rise in net card fees, attributed to high levels of new card acquisitions and strong retention rates.

In terms of operational metrics, American Express reported a total of 153.9 million cards in force, a 4% increase from the previous year. The company also noted that its average card balances grew by 9% to $222.8 billion, while customer deposits increased by 8% to $157.9 billion. The net write-off rate for card balances remained stable at 2.3%, indicating effective credit management despite a challenging macroeconomic environment. The company’s Common Equity Tier 1 (CET1) capital ratio stood at 10.5%, within its target range, reflecting a solid capital position.

Strategically, American Express made significant moves during the quarter, including the acquisition of its partner's interest in the Swisscard joint venture, which is expected to enhance its international operations. The company also focused on expanding its product offerings, particularly through the refreshed U.S. Platinum card, which has seen strong engagement from Millennial and Gen-Z customers. Additionally, American Express is investing in artificial intelligence capabilities to improve customer service and operational efficiency.

Looking ahead, American Express expressed confidence in its ability to navigate evolving market conditions and competition. The company plans to continue investing in growth initiatives, including acquiring high-spending customers and enhancing its premium product offerings. However, it acknowledged potential challenges from geopolitical tensions and regulatory changes that could impact its operations. Overall, American Express remains focused on long-term growth while managing expenses and maintaining a strong balance sheet.