NEW YORK CITY (dpa-AFX) - Integrated payments company American Express Co. (AXP) reported Friday a profit for the third quarter that increased 27 percent from last year, reflecting higher net interest income and lower provisions for credit losses. The company also raised its earnings guidance for the full-year 2026, while maintaining annual revenue growth outlook.
For the third quarter, the company reported net income e attributable to common shareholders of $3.65 billion or $5.42 per share, higher than $2.87 billion or $4.14 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $4.69 per share, compared to $4.14 per share in the year-ago quarter.
Consolidated revenues net of interest expense for the quarter grew 9 percent to $20.06 billion from $18.43 billion in the same quarter last year, driven by higher Card Member spending, increased net interest income supported by growth in card balances, and strong card fee growth.
Net interest income grew 10 percent to $4.94 billion, and total non-interest income increased 8 percent to $15.12 billion from last year.
Consolidated provisions for credit losses were $1.0 billion, compared to $1.3 billion last year, reflecting a reserve release this quarter, compared to a reserve build last year, partially offset by higher net write-offs.
Consolidated expenses grew 9 percent to $14.55 billion from last year, primarily reflecting higher variable customer engagement costs, partially offset by lower operating expenses.
Looking ahead to fiscal 2026, the company now projects earnings in a range of $18.30 to $18.60 per share, up from the prior forecast range of $17.30 to $17.90 per share. However, the company continues to expect revenue growth guidance to 10 percent.
In Friday's regular trading session on the NYSE, AXP is at $319.32 down $5.86 or 1.80 percent.
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