American Express raised its 2026 earnings outlook after third-quarter net income rose 28%, as higher Card Member spending, net interest income and card fee growth accompanied a 9% increase in total revenues net of interest expense.
Total revenues net of interest expense were $20.1 billion, up 9% from a year earlier. Net income climbed to $3.7 billion from $2.9 billion. Diluted earnings per share increased 31% to $5.42.
On an adjusted, non-GAAP basis, earnings per share grew 13% to $4.68. The calculation excludes a $982 million pretax gain from the sale of its stake in Global Business Travel Group, Inc., and adds back a $336 million pretax restructuring charge.
For 2026, the company expects diluted earnings per share of $18.30 to $18.60. Its adjusted earnings-per-share forecast is $17.60 to $17.90. Chairman and CEO Stephen J. Squeri said the higher outlook reflected performance so far in 2026 and that the company remained on track to grow revenue 10% for the year.
Provisions for credit losses totaled $1 billion, compared with $1.3 billion a year earlier. American Express said a release of reserves drove much of the year-over-year decline in provisions, while higher net write-offs tempered the drop.
The company filed a Form 8-K with the Securities and Exchange Commission on Friday, Oct. 23. The filing lists Item 2.02, “Results of Operations and Financial Condition”; Item 7.01, “Regulation FD Disclosure”; and Item 9.01, “Financial Statements and Exhibits.”
