Friday, Oct. 23, 2026
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09:00 ETAmerican Express Q3 EPS Rises 31% to $5.42; Shares Fall 3% Premarket16:55 ETWestern Digital Q1 Revenue Up 55% to $4.38B; Shares Fall 8% After Hours09:00 ETP&G Q1 Sales Rise 4% to $23.3B; Shares Gain 2% Before the Open16:55 ETMeta Q3 Revenue Jumps 26% to $64.6B; Shares Rise 5% After Hours16:55 ETTesla Q3 Operating Income Falls 56% to $718M as Revenue Holds at $28B08:55 ETPhilip Morris Shares Fall 3% Premarket as Q3 Adjusted EPS Hits $2.36
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American Express Q3 EPS Rises 31% to $5.42; Shares Fall 3% Premarket

American Express posted record Q3 revenue of $20.1 billion, up 9%, and raised its 2026 EPS forecast, but its shares fell about 3% before Friday's open.

By Global Market News Staff · · 3 min read
A person inserting a credit card into a handheld payment terminal held by another person
Photo: Clay Banks / Unsplash

Why it matters

  • American Express said Friday, Oct. 23, that third-quarter revenue net of interest expense rose 9% to a record $20.06 billion and diluted EPS rose 31% to $5.42. Excluding a gain on the sale of its stake in Global Business Travel Group, net of restructuring costs, adjusted EPS rose 13% to $4.68.
  • The card issuer raised its full-year 2026 EPS forecast to $18.30 to $18.60, or $17.60 to $17.90 adjusted, from the $17.30 to $17.90 it gave in July, and said it is on track for 10% revenue growth.
  • American Express shares traded at about $316.04 at 8:55 a.m. ET, down about 2.8% from Thursday's close of $325.17, according to Yahoo Finance data.

American Express shares fell about 3% in premarket trading Friday, Oct. 23, even after the card issuer reported a 31% jump in third-quarter earnings per share to $5.42 and raised its full-year profit forecast. The stock traded at about $316.04 at 8:55 a.m. ET, down from Thursday's close of $325.17, according to Yahoo Finance data.

Revenue net of interest expense rose 9% to a record $20.06 billion for a third quarter, the company said in its earnings release, filed with the Securities and Exchange Commission at about 7 a.m. ET. Net income rose 28% to $3.71 billion.

What drove American Express's earnings jump?

Much of the jump came from a one-time gain. American Express booked a $982 million pretax gain, or $751 million after tax, from the previously announced sale of its stake in Global Business Travel Group. It used part of that gain to fund restructuring tied to efficiency efforts, a $336 million pretax charge. Excluding both, adjusted EPS rose 13% to $4.68 and adjusted net income rose 11% to $3.21 billion, by the company's math.

Nasdaq's earnings calendar had listed a consensus EPS forecast of $4.47 for the quarter, based on nine estimates.

The company said revenue growth came mainly from higher card member spending, more net interest income as card balances grew, and strong growth in card fees. Billed business, the amount spent on its cards, rose 8% to $454.0 billion.

American Express third-quarter 2026 results at a glance

MeasureQ3 2026Q3 2025Change
Revenue net of interest expense$20.06 billion$18.43 billion+9%
Billed business$454.0 billion$421.0 billion+8%
Pretax income$4.53 billion$3.83 billion+18%
Net income$3.71 billion$2.90 billion+28%
Diluted EPS$5.42$4.14+31%
Adjusted EPS$4.68$4.14+13%
Provisions for credit losses$1.0 billion$1.3 billionn/a
Net write-off rate1.8%1.9%-0.1 pt

Source: American Express third-quarter 2026 earnings release (Exhibit 99.1 to Form 8-K).

Credit stayed solid. Provisions for credit losses fell to $1.0 billion from $1.3 billion as the company released reserves, compared with a reserve build a year earlier, partly offset by higher write-offs. Expenses rose 9% to $14.5 billion, driven mainly by higher variable customer engagement costs tied to more card member spending and the refresh of its U.S. Platinum Card. The effective tax rate fell to 18.1% from 24.1% because of one-time tax benefits.

What is American Express's 2026 outlook?

American Express now expects 2026 EPS of $18.30 to $18.60, or $17.60 to $17.90 excluding the travel-stake gain and restructuring charge. In its second-quarter release in July, it had forecast EPS of $17.30 to $17.90. Chairman and CEO Stephen J. Squeri said the company is "on track to deliver another year of 10 percent revenue growth."

How did American Express stock react?

The shares swung in early trading. They rose as high as about $328.46 in the 7 a.m. ET five-minute window, just after the release, then slipped below Thursday's close, Yahoo Finance data show. The company's conference call was set for 8:30 a.m. ET, and premarket prices can change before the 9:30 a.m. ET open.

For more bank and lender results this season, see our reports on Bank of America's third-quarter earnings and Goldman Sachs's third-quarter beat. Follow more earnings coverage in our companies section.

Sources

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