American Express Raises 2026 EPS Outlook as Q3 Revenue Rises 9%

American Express raised its 2026 earnings outlook after third-quarter revenue net of interest expense increased 9% year over year to $20.062 billion. The results cover the three months ended Sept. 30, 2026.

Revenue climbed from $18.426 billion in the year-earlier quarter. Diluted GAAP earnings per share reached $5.42, up 31% from $4.14, while adjusted EPS rose 13% to $4.68.

American Express released the results Oct. 23. Adjusted EPS is a non-GAAP measure presented separately from diluted GAAP earnings per share. The adjusted figure excludes a $982 million pretax gain, or $751 million after tax, from the sale of its equity interest in Global Business Travel Group, Inc., net of the portion used to fund restructuring tied to efficiency initiatives.

The company now expects full-year EPS of $18.30 to $18.60, compared with its previous range of $17.30 to $17.90. Its adjusted EPS outlook is $17.60 to $17.90. American Express kept the earlier EPS range after its second-quarter results. The new range is $1 higher at the low end and 70 cents higher at the top.

Higher Card Member spending, growth in card fees and increased net interest income primarily drove the quarterly revenue increase. Growth in card balances supported net interest income. Credit-loss provisions were $985 million, down from $1.287 billion in the third quarter of 2025.

“We had another strong quarter, delivering 9 percent revenue growth and EPS of $5.42, or $4.68 adjusted, up 13 percent year-over-year,” American Express Chairman and CEO Stephen J. Squeri said.