American Express Q1 2026: Record 18.9B Revenue, 3B Profit

American Express delivered a strong first-quarter beat on Thursday, reporting record revenue of 18.91 billion dollars and net income of 3.0 billion dollars, both ahead of Wall Street expectations. Earnings per share came in at 4.28 dollars, about 18 percent above the year-ago quarter and roughly seven percent above analyst consensus.

A Premium Cardholder Who Keeps Spending

According to results compiled by StockStory, TipRanks, AP and Meyka, card member spending rose 10 percent, or 9 percent on a foreign-exchange adjusted basis. The net write-off rate held at 2.0 percent, a level consistent with strong underlying credit quality. Expenses rose 11 percent on continued investment in engagement, marketing and technology. Revenue growth of roughly 11 percent year over year beat consensus, which had sat near 18.62 billion dollars.

The numbers reinforced a narrative Amex has leaned into for several quarters: the affluent U.S. consumer, core to the company's card franchise, continues to spend at a healthy clip despite broader macroeconomic uncertainty, including the Iran-related oil shock that has rattled equity markets in recent weeks.

Guidance Reaffirmed

Amex reaffirmed its 2026 full-year outlook, guiding to revenue growth of 9 to 10 percent and earnings per share in a range of 17.30 to 17.90 dollars. The reaffirmation, rather than a raise, signals steady confidence in the 2026 trajectory set at the start of the year.

Strategic Highlights

The quarter included several brand and product milestones, among them the company's designation as an NFL Official Payments Partner, an extended agreement with the NBA, the launch of the Graphite Business Cash Unlimited Card, new AI-enabled commerce tools and continued expansion of the Centurion Lounges network. Taken together, the moves reflect a twin focus on high-frequency consumer touchpoints and premium travel, the two arenas where Amex has long argued its moat runs deepest.

The print stood in sharp contrast to airline results reported the same morning.