AXP Q3 2025 Revenue Surges to $18.4 Billion, Exceeding Expectations with Strong EPS Growth

American Express Company (AXP.US) reported robust financial results for the third quarter of 2025, with revenues reaching a record $18.4 billion, marking an 11% increase year-over-year. Diluted earnings per share (EPS) also saw a significant rise of 19% to $4.14, surpassing analyst estimates of $3.96.

These strong figures were primarily fueled by accelerated Card Member spend growth and increased net interest income, demonstrating the company's sustained financial momentum. Management has consequently raised its full-year guidance for revenue growth and EPS, reflecting confidence in its strategic initiatives and market position.

Key Business Drivers

The company's performance was significantly driven by increased Card Member spending, which accelerated to 9%, or 8% on an FX-adjusted basis. This was complemented by higher net interest income, supported by growth in revolving loan balances, and continued strong card fee growth. The successful refresh of the U.S. Consumer and Business Platinum Cards also played a crucial role, doubling new U.S. Platinum account acquisitions compared to pre-refresh levels.

Consolidated expenses rose 10% year-over-year to $13.3 billion, primarily due to higher variable customer engagement costs. These costs were linked to increased Card Member spending and greater usage of travel- and lifestyle-related benefits, as well as higher operating expenses. Provisions for credit losses decreased slightly to $1.3 billion from $1.4 billion a year ago, reflecting a lower reserve build.

Management Outlook

Building on its strong year-to-date performance, American Express has raised its full-year 2025 guidance. The company now expects revenue growth of 9% to 10% and EPS in the range of $15.20 to $15.50.

Chairman and CEO Stephen J. Squeri expressed confidence in the company's growth prospects, emphasizing the continued execution of its product refresh strategy and the enhancement of its Membership Model. This strategic focus aims to deliver sustained value for Card Members, merchant partners, and shareholders.