Revenue rose 11% and earnings per share 18%, as CEO Stephen Squeri said premium cards and affluent younger customers continued to drive growth.
Squeri's strategy centred on richer benefits and higher fees, including a Platinum refresh that lifted the annual charge to $895 while boosting new account acquisitions and retention.
The company has outperformed major US banking and payments peers since 2018, though it faces tougher premium-card competition, lounge overcrowding concerns and risks from a weakening economy.
Is Amex's 'revenue first' strategy creating an unsustainable perks bubble for both the company and its cardholders?
How did Amex convince Gen Z that a high-fee credit card is an essential lifestyle accessory?
With its Resy merger, is Amex building a dining empire or an inescapable trap for independent restaurants?
American Express Q1 2026 Earnings Beat Expectations with 10% Cardmember Spending Growth and Strategic AI Investments
Overview
American Express reported a strong Q1 2026 with earnings per share of $4.28, beating estimates, driven by a 10% rise in card member spending, including an 18% increase in luxury retail and 20% growth in international markets. The company acquired 3.1 million new cards, with younger generations like Gen Z boosting spending significantly. Strategic investments in marketing, technology, and AI-powered commerce, including the launch of the ACE developer kit and new business card products, support future growth. High-profile partnerships with the NFL and NBA enhance premium customer engagement. Despite these strengths, some softness in airline spending and broader risks led to cautious market sentiment, though Amex reaffirmed its full-year guidance and continues balancing growth with strong financial discipline.