American Express (NYSE:AXP) reported third-quarter 2025 results that topped analyst expectations, supported by record revenue and robust spending from card members. The credit card company posted revenue of $18.43 billion, an 11% year-over-year increase, surpassing consensus estimates of $18.05 billion. Earnings per share came in at $4.14, ahead of the projected $3.99.
Net income climbed 16% to $2.9 billion from $2.5 billion in the same period last year, while EPS jumped 19% from $3.49 a year earlier. Card member spending grew 9%, or 8% on an FX-adjusted basis, reinforcing the company’s strong performance.
Shares of American Express rose 1% in early trading after the results, as investors welcomed both the earnings beat and an upward revision to guidance.
“We delivered a very strong quarter, with revenues growing 11 percent year-over-year to a record $18.4 billion, and EPS rising 19 percent to $4.14,” said Stephen J. Squeri, Chairman and Chief Executive Officer. “Card Member spend growth accelerated to 8 percent on an FX-adjusted basis, and our credit metrics remained best-in-class.”
The company reported improved credit metrics, with provisions for credit losses down to $1.3 billion from $1.4 billion a year ago. The net write-off rate held steady at 1.9%.
American Express raised its full-year 2025 outlook, now forecasting revenue growth between 9% and 10% and EPS in the range of $15.20 to $15.50. The midpoint of the revised EPS forecast ($15.35) is slightly above the analyst consensus of $15.34.
The company also highlighted encouraging results from its refreshed U.S. Platinum Card, noting that new account signups have doubled compared to pre-refresh levels.
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