NEW YORK CITY (dpa-AFX) - American Express Co. (AXP), while reporting higher first-quarter earnings and revenues, on Thursday confirmed fiscal 2026 outlook.
For fiscal 2026, the company continues to expect earnings per share of $17.30 to $17.90, with 9 to 10 percent revenue growth.
Stephen Squeri, Chairman and Chief Executive Officer, stated, 'We had a very strong start to the year, reflecting continued momentum across our premium customer base and execution of our proven growth strategy.... With our differentiated Membership Model, fueled by our premium Card Members, world-class partners, and the innovations and services delivered by our talented colleagues, we are confident in our ability to deliver sustainable long-term growth.'
In the first quarter, the company's bottom line came in at $2.938 billion, compared to $2.552 billion last year. Earnings per share were $4.28, up 18 percent from $3.64 a year ago.
Consolidated expenses were $13.9 billion, up 11 percent year-over-year.
The company's consolidated total revenues for the period rose 11.4 percent to $18.907 billion from $16.967 billion last year. The growth was 10 percent on an FX-adjusted basis.
The company attributed the revenue growth primarily to higher Card Member spending, increased net interest income supported by growth in card balances, and strong card fee growth.
Billed Business increased 10 percent to $428.0 billion from $387.4 billion last year.
In pre-market activity, the shares were trading at $334.98, up 0.59 percent.
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