American Express's revenue and profits rose as cardholders spent more
Special topic: Focus on the second quarter financial report of US stocks in 2026 The credit card institution's net revenue after interest expenses rose 10% year over year to $19.64 billion. American Express's revenue and profits both increased in the second quarter. American Express' second-quarter net profit was $3.11 billion, up from $2.89 billion in the same period last year, thanks to increased cardholder spending. American Express (relying on the growth of cardholders’ credit card consumption), revenue and profits rose simultaneously in the second quarter. The credit card company on Friday reported net income of $3.11 billion, or $4.53 per share, in the second quarter ended June 30, compared with net income of $2.89 billion, or $4.08 per share, in the same period a year earlier. Analysts according to FactSet expected earnings of $4.40 per share, and the results beat estimates. Net revenue, excluding interest expenses, rose 10% year-on-year to $19.64 billion; analysts surveyed by FactSet had expected revenue of $19.7 billion. The core driver of the revenue increase was a 9% increase in cardholder spending, the highest growth rate in three years. Credit card processing fee income has increased with the scale of card swiping, and the increase in cardholder balances has also led to an increase in net interest income. CEO Stephen Squery said: "The overall business climate in the first half of the year exceeded our previous expectations." American Express plans to continue investing the excess profits from this round into various growth projects, focusing on the annual fee credit card ecosystem. These cards come with multiple exclusive benefits. In the second quarter, American Express plans to acquire TheFork, a European catering reservation platform, to expand catering rights and benefits. American Express Platinum Card is one of the cards with the highest annual fee and richest benefits. It is currently the fastest growing product in the personal consumption sector in the United States. Full Year Guidance Update American Express raised its full-year revenue growth forecast, predicting that full-year revenue will rise by 10%. The previous guidance range was a growth of 9% to 10%; full-year earnings per share remains unchanged from the original expected range of 17.30 to 17.90 US dollars.