American Express has increased its full-year revenue growth forecast and beaten Wall Street expectations for second-quarter profit. The credit card issuer’s affluent customers have continued to spend on travel and dining despite economic uncertainty.
Revenue Growth
Billed business, a measure of total spending on AmEx cards, rose 9% to $455.8 billion. Revenue also increased by 10% to $19.6 billion in the quarter. CEO Stephen Squeri stated that the company’s investments in value propositions have driven accelerated spend and revenue growth.
The company now expects 2026 revenue to grow 10%, in line with Wall Street expectations. AmEx’s earnings provide an early look at spending patterns among affluent consumers, offering investors insight into discretionary spending before other major card networks report results.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
