American Express Reports 10% Revenue Growth to $19.6 Billion in Q2 2026

American Express Company reported strong financial performance for the second quarter of 2026, with total revenues net of interest expense reaching $19.6 billion, a 10% increase from $17.9 billion in the same period last year. The company’s net income also rose to $3.1 billion, or $4.53 per diluted share, compared to $2.9 billion, or $4.08 per diluted share, in the prior year, reflecting an 8% year-over-year increase in profitability. The growth in revenues was primarily driven by a 9% increase in billed business, which reached $455.8 billion, supported by strong consumer spending across both Goods & Services and Travel & Entertainment categories.

In terms of operational metrics, American Express reported a total of 155.1 million cards in force, a 4% increase from the previous year. The company also noted a 10% growth in overall transaction volume, indicating strong customer engagement. The U.S. Consumer Services segment saw billed business grow by 11%, driven by the premium card portfolios, particularly the U.S. Platinum portfolio, which experienced an acceleration following a recent refresh. International Card Services, the fastest-growing segment, reported a 13% increase in billed business, reflecting robust growth across various geographies.

The company made strategic 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. Additionally, American Express announced plans to build a new headquarters in New York City, committing up to $2.8 billion for the construction. The company also continued to invest in its Membership Model, focusing on enhancing customer engagement through improved rewards and services.

American Express reported a decrease in provisions for credit losses, which fell to $1.1 billion from $1.4 billion a year ago, reflecting improved credit performance and a stable net write-off rate of 2.2%. The company maintained a Common Equity Tier 1 (CET1) capital ratio of 10.4%, within its target range, and returned $2.9 billion to shareholders through share repurchases and dividends during the quarter. Looking ahead, American Express expressed confidence in its ability to sustain growth despite potential macroeconomic uncertainties, emphasizing its focus on premium customer segments and continued investment in technology and services.