American Express has today forecast annual profit largely above Wall Street expectations, underscoring resilient spending by the credit card giant’s largely affluent customer base amid broader economic uncertainty.
The company expects 2026 earnings per share between $17.30 and $17.90. The mid-point of the range is above analysts’ average projection of $17.41 per share, according to estimates compiled by LSEG.
Revenue is expected to grow in the range of 9% to 10% compared to expectations of about 9%.
Analysts have said AmEx’s focus on the premium segment insulates the company from a broader slowdown in spending and helps deliver solid growth.
“As demonstrated in our results, our investments are paying off – driving increased customer demand, engagement and loyalty,” CEO Stephen Squeri said in a statement.
Billed business, a measure of spending on AmEx cards, rose 9% to $445.1 billion in the fourth quarter.
The company in December reported a 9% growth in U.S. retail consumer spending around the key Thanksgiving holiday week, ahead of an Adobe Analytics report of a 7.7% rise for the broader spending.
The credit card company’s shares gained 24.7% in 2025, outperforming rivals Visa’s 11% and Mastercard’s 8.4% rise.
American Express’ profit came in at $3.53 per share in the three months ended December 31. That compares with $3.04 per share, a year earlier. Revenue grew 10% to $18.98 billion.
Investor attention is on how AmEx will navigate a potential one-year cap on credit card interest rates proposed by US President Donald Trump to address affordability concerns.
Banking and card industry bodies have pushed back strongly against the proposal, arguing that it would limit credit availability to everyday Americans.
Though analysts have said such a move would require legislation and has slim odds of passage, the proposal weighed on financial stocks and sent them tumbling earlier this month.
