American Express (NYSE:AXP) exceeded Wall Street expectations for the second quarter, buoyed by record-breaking card member spending and steady credit performance. The company’s stock gained 2% in premarket trading following the earnings release.
Adjusted earnings per share came in at $4.08, beating analyst forecasts of $3.87. Revenue climbed 9% year-over-year to $17.86 billion, slightly ahead of the $17.7 billion consensus estimate. Total card member spending surged to an all-time quarterly high of $416.3 billion, reflecting a 7% annual increase.
“Our second-quarter results continued the strong momentum we have seen in our business over the last several quarters, with revenues growing 9% year-over-year to reach a record $17.9 billion, and adjusted EPS rising 17%,” said Stephen J. Squeri, Chairman and Chief Executive Officer.
The credit card issuer reaffirmed its full-year 2025 outlook, guiding earnings per share between $15.00 and $15.50, which brackets the analyst consensus of $15.22. Revenue growth is expected to remain in the 8% to 10% range.
Despite an increase in provisions for credit losses to $1.4 billion—up from $1.3 billion a year earlier—credit quality remained healthy. The net write-off rate improved slightly to 2.0% from 2.1% in the same quarter of 2024.
American Express also spotlighted continued strong interest in its premium card offerings and previewed new enhancements to its U.S. Consumer and Business Platinum Cards, set to launch this fall as part of its strategy to reinforce leadership in the premium segment.