American Express Earnings Beat Shows Wealthy Cardholders Still Spending — But AXP Stock Drops
American Express posted first-quarter earnings per share of $4.28, beating LSEG estimates, as billed business hit $428 billion and FX-adjusted spending rose 9%. Net income climbed 15% to $2.97 billion, with revenue up 11% to $18.91 billion. The company kept its 2026 revenue and profit outlook unchanged. Shares fell despite the profit beat, as investors noted flat guidance and signs of weaker travel spending.