American Express reported record third-quarter revenue of $20.1 billion for the period ended September 30, 2026, as card spending, fee growth and net interest income all advanced.

The payments company also raised its full-year earnings outlook after diluted earnings per share climbed 31% from a year earlier. The update adds another signal of resilient activity across U.S. consumer finance after recent results from Customers Bancorp and Popular.

Spending and Fees Drive Record Revenue

American Express said on October 23 that billed business reached $454.0 billion in the September quarter, up 8% from a year earlier. Revenue net of interest expense increased from $18.4 billion to $20.1 billion.

The company attributed the gain to higher cardmember spending, increased net interest income supported by card-balance growth and stronger card fees. Card acceptance reached more than 190 million merchant locations worldwide as of July, according to the release.

Profit Rises as Credit Metrics Improve

Net income rose 28% to $3.7 billion from $2.9 billion. The quarter included a gain tied to the sale of American Express’s stake in Global Business Travel Group, partly offset by restructuring costs. Excluding those items, adjusted net income was $3.2 billion.

Credit-loss provisions declined to $1.0 billion from $1.3 billion, while the net write-off rate improved to 1.8% from 1.9%. That credit performance contrasts with the loan-and-deposit dynamics highlighted in recent Tompkins Financial results.

Raised Guidance Sets the Next Benchmark

American Express lifted its 2026 GAAP EPS forecast to $18.30–$18.60 from its prior range and projected adjusted EPS of $17.60–$17.90. The company said it remains on track for about 10% annual revenue growth.

Investors will now watch whether spending volumes and fee growth hold up as macroeconomic conditions evolve. Management identified credit performance, operating expenses and continued investment in products and technology as important variables for the outlook.

Sharron Kendi is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence.