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Revenue: Record $20.1 billion, up 9% year-over-year (would have been ~1 point higher excluding small business co-brand portfolio exits).GAAP EPS: $5.42 reported

It hasn't been a good week for workers in the banking and financial sector. Yesterday, UK banking giant Barclays announced it was laying off 5% of its workforce, or nearly 5,000 workers, as it transitions more of the bank's operations to artificial intelligence systems.

American Express Company (AXP) Q3 2026 Earnings Call Transcript

Amex Stock Slides on Job Cuts, But the Real Story Is MacroAmerican Express NYSE: AXP reported third-quarter revenue of $20.1 billion, up 9% from a year earlier, as continued spending growth, rising card fees and strong credit performance supported results. The company raised its full-year earnings outlook while reaffirming its expectation for 10% revenue growth.

Chairman and Chief Executive Officer Steve Squeri said reported earnings per share were $5.42, while adjusted EPS was $4.68. The quarter included several discrete items, including a gain from the closing of the Global Business Travel transaction, a restructuring charge and legal reserve expense.

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Swiping to Record Highs: Why Visa Remains a FortressAmerican Express increased its full-year 2026 reported EPS guidance to between $18.30 and $18.60, from its prior outlook, and set adjusted EPS guidance at $17.60 to $17.90. Squeri said the company remains on track for another year of 10% revenue growth and mid-teen EPS growth.

Global Business Travel Gain and Restructuring
The sale of American Express investments in Global Business Travel Group generated a gain of $1.11 per share during the quarter. The company used part of that gain to fund a $336 million restructuring charge, or $0.37 per share, that is expected to eliminate about 5% of its global positions.

3 Stocks to Watch as Wall Street Wealth Fuels Consumer SpendingSqueri said the restructuring is intended to streamline the organization, reduce management layers and speed decision-making as the company pursues growth and innovation initiatives. Excluding the Global Business Travel gain and restructuring charge, adjusted EPS totaled $4.68, up 13% year over year, according to Chief Financial Officer Christophe Le Caillec.

Adjusted results also included a $0.51-per-share increase in legal reserves, including the unreserved portion of a recently announced Office of the Comptroller of the Currency civil money penalty and a reserve for an anticipated settlement in an unrelated matter. A discrete tax benefit of $0.29 per share and a $0.24-per-share benefit related to CECL reserve-model updates offset those items, Le Caillec said.

Squeri said the OCC orders do not impose an asset cap on the company. He added that the costs associated with remediation are not expected to affect American Express’ 2027 guidance, though he said the deficiencies cited in the consent order should not have occurred.

Spending, Fees and Credit Trends
Overall billed business rose 8% during the quarter, consistent with the prior four quarters. Goods and services spending increased 7%, while travel and entertainment spending rose 10%. Airline spending increased 13%, restaurant spending rose 9%, and U.S. consumer spending grew 9.4%.

Le Caillec said the quarter included an approximately 60-basis-point year-over-year effect from co-brand exits, including the sale of the Amazon co-brand portfolio midway through the period. He also cited the timing of Amazon Prime Day and other promotional retail events as a factor affecting sequential spending comparisons.

Commercial spending rose 3%, or 5% excluding co-brand portfolio exits, while international spend increased 11%. Merchant coverage reached more than 190 million locations globally, compared with 160 million a year earlier. American Express acquired 3.1 million new cards in the quarter, with 76% of new accounts on fee-paying products.

Net card fees increased 17% on an FX-adjusted basis, remaining the company’s fastest-growing revenue line. Le Caillec said the growth reflected strong results from the U.S. Platinum card refresh. One year after the refresh, spend retention for the U.S. Consumer Platinum portfolio stood at 99%.

Total cardmember balances grew 8%, while net interest income increased 10%. Write-off dollars rose 3%, and the delinquency rate remained between 1.2% and 1.3% for the 15th consecutive quarter. Provision expense was $985 million, including a $211 million reserve release driven by CECL model enhancements.

Investment, Returns and Customer Offerings
Marketing expense increased 11% as American Express stepped up customer-acquisition investments following strong first-half performance. The value-creating expense-to-revenue ratio was 44.3%, and Le Caillec said growth in cardmember services expenses should moderate significantly in the fourth quarter as the company laps the Platinum refresh.

American Express returned $2.2 billion of capital to shareholders in the third quarter, including $1.6 billion of share repurchases and $600 million in dividends. Its CET1 ratio ended the quarter at 10.9%.

The company also highlighted new products and partnerships, including an exclusive Airbnb agreement that will bring more than 1 million listings globally into Amex Travel and expand travel benefits for eligible U.S. card members. American Express also cited its Corporate Cashback Card, integrated expense-management capabilities and Business Savings account as initiatives designed to build engagement among business customers.

AI Strategy Focuses on Membership and Payments
Squeri said American Express is using artificial intelligence to improve productivity and internal processes, but emphasized that the company sees AI as a way to make card membership more personalized and valuable. The company is focusing on AI applications across value propositions, customer acquisition, engagement, payments and service.

Examples include the Resy Restaurant Discovery and Reservations experience in ChatGPT, work with OpenAI on an Amex plugin for discovering and enrolling in Amex Offers, and the company’s AI-enabled travel Wishlist Builder. Through a partnership with Perplexity, eligible business card members can access Amex-curated AI tools for activities such as cash-flow forecasting and marketing campaigns.

For agent-driven payments, American Express is developing tools intended to authenticate agents, verify customer authorization and preserve transaction context. Squeri said the company plans to take a risk-based approach to AI-agent access and will not allow assistants to operate freely through its systems.

“Our customer remains the card member,” Squeri said, adding that the company’s objective is to extend American Express protections, service and membership benefits into AI-powered experiences.

About American Express (NYSE:AXP)American Express Company is a global financial services company that provides payment, lending, travel and expense management products and services. Its offerings include consumer and small-business charge and credit cards, corporate payment programs, business financing solutions, deposit products and digital payment services.

The company operates an integrated payments network that connects card members, merchants and financial institutions. American Express also provides merchant acquisition and payment processing services, data and analytics, fraud prevention tools, and customer loyalty programs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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On its third quarter of 2026 earnings call, held on Oct. 23, 2026, American Express (AXP -3.77%) reported record quarterly revenues of $20 billion and reaffirmed its full-year revenue growth target of 10%. Expanding total revenue while sustaining high customer retention gives the business predictable cash flow to reinvest in technology and expand global merchant coverage. Three things management said stand out.

1. Eliminating 5% of Positions Globally to Boost Operational AgilityManagement recorded a $336 million corporate restructuring charge to eliminate roughly 5% of global positions, streamlining management layers to accelerate product delivery and fund strategic growth priorities.

With that objective in mind, earlier this year, I asked the senior leadership team to identify ways to streamline their organizations, align their teams on the most critical deliverables, and reduce layers to speed decision-making.
-- Steve Squeri, Chairman and Chief Executive Officer2. Embedding Membership Assets Into Artificial Intelligence ToolsRather than relying on artificial intelligence solely for operational productivity, the enterprise is integrating its card rewards, travel booking services, and dining reservations into conversational platforms to capture customer spending wherever financial decisions occur.

Our goal is to have membership travel with our card members throughout these new AI-powered experiences, shaping recommendations, securing payments, activating the right value, and supporting the customer afterward.
-- Steve Squeri, Chairman and Chief Executive Officer3. Premium Customer Base Is Elevating Portfolio Credit QualityFocusing card acquisition on creditworthy customers who pay annual card fees strengthens overall credit performance, keeping delinquent accounts low while stabilizing variable customer engagement, or VCE, which tracks rewards and cardmember service expenses.

As we focus more on fee-paying card members, as we focus more on VCE, we are attracting card members that have a great credit profile, and that slowly improving the credit metrics across the portfolio.
-- Christophe Le Caillec, Chief Financial OfficerLooking AheadCardmember travel spending continues to expand, reflecting steady demand across premium segments. To capitalize on this, American Express formed a partnership with Airbnb.

We know that card members enjoy the exceptional variety and scope of Airbnb's network of unique locations, and we are excited to bring over 1 million listings globally into our Amex Travel program, as well as expanding travel benefits for eligible U.S. card members.
-- Steve Squeri, Chairman and Chief Executive OfficerA proprietary closed-loop network and direct customer relationships provide durable competitive advantages as leadership prioritizes underwriting discipline and global merchant acceptance. Management is combining targeted investments with operational discipline to capture long-term growth opportunities.

We are on track to deliver another year of 10% revenue growth and mid-teen EPS growth, and more importantly, we have momentum to sustain strong results in the years ahead.
-- Steve Squeri, Chairman and Chief Executive OfficerAmerican Express is an advertising partner of Motley Fool Money. The Motley Fool has positions in and recommends Airbnb and American Express. The Motley Fool has a disclosure policy.

American Express is slashing 5% of its workforce as the credit card giant prepares to automate some of its internal processes using AI – the latest tech-driven layoffs to hit the financial sector.

The company on Friday announced a $336 million restructuring charge as part of the layoffs, which will impact thousands of the firm’s roughly 77,000 workers. 

Christophe Le Caillec, the firm’s chief financial officer, told CNBC after the firm reported its third-quarter earnings that the reorganization will make American Express “leaner, more agile, and also [able] to prepare for AI.”

American Express CEO Stephen Squeri speaks during an event in New York on Nov. 10, 2022. Bloomberg via Getty Images
“You don’t want to automate processes that are not optimally structured,” he added. “So what we’re doing here is to reduce layers and increase spans of controls, so that we can automate and take advantage of AI in the coming quarters and the coming years.”

Shares of American Express slid 3.8% by about 1 p.m. ET as investors took the layoffs as the latest example of AI’s potential to eliminate jobs. 

British lender Barclays on Thursday announced 5,000 planned job cuts in its own AI push.

So far this year through September, AI has been cited in more than 120,000 job cut announcements, according to data from Challenger, Gray & Christmas. 

The financial sector and other white-collar professions have been among those most impacted by the new tech.

Despite record-low consumer sentiment readings and stubbornly high inflation, American Express reported a rise in profits as shoppers – especially wealthier ones – have shrugged off sky-high prices and continued to spend.

But during a post-earnings call Friday, CEO Stephen Squeri said the AI push and layoffs were necessary to improve efficiency and prepare for the future.

The company announced planned job cuts that will impact thousands of workers. JHVEPhoto – stock.adobe.com
“We’ve got good momentum, but to accelerate innovation and win over the next few years, we needed to become [a] more agile and efficient organization,” he said.

He added that the company will use AI to personalize customer experiences and offers, but assured investors that American Express is “not going to let assistants run rogue through our system.”

Tech giants have reported a slew of concerning incidents in which AI agents broke out of their restraints or turned off safety systems. 

Industry leaders like Anthropic CEO Dario Amodei and OpenAI’s Sam Altman have called for more regulations and a development pause after a researcher last month sounded the alarm over the potential for AI to wipe out the human race.

The credit card giant also reported strong earnings. REUTERS
“We need to protect our customers [and] merchants, and we’re only going to allow agents to access our systems that are either approved through API or MCP channels,” Squeri said, referencing two external security systems.

On Friday, the credit card company reported adjusted earnings per share of $4.68 – beating expectations of $4.48.

Revenue jumped 9% to $20.06 billion, slightly missing estimates of $20.12 billion. 

American Express also hiked its full-year earnings forecast to $18.30 to $18.60 a share, up from a previous range of $17.30 to $17.90.

Its sale of the company’s stake in Global Business Travel Group helped boost its earnings prediction, according to Le Caillec.

American Express Company (NYSE:AXP, XETRA:AEC1) raised its 2026 earnings guidance after third-quarter revenue reached a record $20.1 billion, supported by stronger card spending and higher fees.

The global payments group now expects full-year earnings per share (EPS) of $18.30 to $18.60, up from its previous guidance, with an adjusted EPS forecast of $17.60 to $17.90.

Chief executive Stephen Squeri said the company remained on track to deliver another year of 10% revenue growth, citing strong spending, new customer acquisitions and cardholder retention.

Revenue net of interest expense rose 9% year-on-year to $20.1 billion in the three months to 30 September, while billed business, a measure of spending on its cards, increased 8% to $454 billion.

Reported earnings per share climbed 31% to $5.42. In comparison, adjusted EPS rose 13% to $4.68 after excluding a gain from the sale of the company's stake in Global Business Travel Group and related restructuring costs.

Net income increased 28% to $3.7 billion, while adjusted net income rose 11% to $3.2 billion, reflecting the underlying performance after those exceptional items.

American Express benefited from higher cardholder spending, growth in net interest income from card balances and stronger card fees, although total expenses increased 9% to $14.5 billion.

Provisions for credit losses fell to $1 billion from $1.3 billion a year earlier, partly because the company released reserves during the quarter rather than building them as it had in the prior-year period.

The net write-off rate, which measures card balances written off as losses, improved to 1.8% from 1.9% a year earlier, indicating slightly better credit performance.

The results also included a lower effective tax rate of 18.1%, compared with 24.1% a year earlier, primarily reflecting tax benefits related to the resolution of previous-period items.

For the first nine months of 2026, revenue net of interest expense rose 10% to $58.6 billion, while adjusted earnings per share increased 14% to $13.49.

The company also expanded its commercial and travel offerings during the quarter, including new corporate expense management products, a business savings account and an exclusive partnership with Airbnb that adds more than one million listings to its travel platform.

Despite the positive report, shares of American Express fell around 2% at Friday's open.

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For the quarter ended September 2026, American Express (AXP - Free Report) reported revenue of $20.06 billion, up 8.9% over the same period last year. EPS came in at $4.68, compared to $4.14 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $20.13 billion, representing a surprise of -0.34%. The company delivered an EPS surprise of +4.7%, with the consensus EPS estimate being $4.47.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how American Express performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Billed business - Total: $454.00 billion versus $456.19 billion estimated by three analysts on average.U.S. Consumer Services - Billed business: $194.20 billion versus $194.61 billion estimated by two analysts on average.Book value per common share: $51.02 versus $50.26 estimated by two analysts on average.Network volumes: $517.90 billion versus $520.46 billion estimated by two analysts on average.Commercial Services - Billed business: $140.70 billion compared to the $141.07 billion average estimate based on two analysts.International Card Services - Billed business: $118.80 billion compared to the $119.73 billion average estimate based on two analysts.Risk-Based Capital Ratios - Basel III - Common Equity Tier 1/Risk Weighted Assets: 10.9% versus 10.5% estimated by two analysts on average.Basic cards-in-force: 130.7 million compared to the 131.52 million average estimate based on two analysts.Total non-interest revenues: $15.12 billion versus $15.19 billion estimated by five analysts on average.Net Interest Income: $4.94 billion compared to the $4.98 billion average estimate based on five analysts.Non-interest revenues- Discount revenue: $10.17 billion versus the four-analyst average estimate of $10.16 billion.Non-interest revenues- Net card fees: $2.97 billion versus the four-analyst average estimate of $2.99 billion.View all Key Company Metrics for American Express here>>>

Shares of American Express have returned +6.4% over the past month versus the Zacks S&P 500 composite's -1.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

American Express (AXP) posted a mixed Q3 and raised its annual profit guidance on Friday morning, but investors aren't celebrating. AXP shares came under pressure as the payments giant announced plans of eliminating about 5% of its global workforce.

American Express (AXP.N) raised its 2026 profit forecast above Wall Street expectations on Friday after reporting strong ​third-quarter results and announced plans to eliminate 5% of its global ‌workforce as part of a restructuring.

Airlines worldwide have raised ticket prices in recent months as they grapple with surging fuel prices stemming from the Middle East conflict and disruptions to global ​oil flows.

AmEx's travel and entertainment spending rose 10% in the third quarter ​from a year earlier, led by a 13% jump in the ⁠airline category and a 9% rise in the restaurant category.

"Of course, there is ​some impact here from the average ticket size and airline price increases," Chief ​Financial Officer Christophe Le Caillec told Reuters in an interview, referring to the airline segment.

By targeting affluent consumers with high credit scores and more disposable income, the credit card giant has built ​a moat around its business to keep broader economic slowdowns and uncertainty at ​bay.

Billed business, a measure of total spending on all AmEx-issued cards, rose 8% in the ‌third quarter ⁠to $454 billion. Revenue climbed 9% to $20.1 billion.

AmEx expects full-year adjusted profit in the range of $17.60 to $17.90 per share, with the mid-point well above estimates of $17.63, according to data compiled by LSEG.

The company has invested heavily in attracting younger consumers, particularly ​Gen Z and millennials, ​as it seeks ⁠to build long-term customer relationships and expand its global market share to sustain growth.

AmEx posted an adjusted profit $4.68 per share ​in the quarter ended September 30, sailing past Wall Street ​expectations of ⁠about $4.48.

The stock fell 1.3% in volatile premarket trading after the results. If the decline holds, it would mark the ninth time in 11 quarters that the stock has ⁠fallen despite ​results beating expectations, Truist analyst Brian Foran wrote ​in a note.

"Maybe we all work too hard, and the investor strategy is just short the quarter, ​long the rest," he added.

American Express raised its full-year earnings forecast to between $18.30 and $18.60 a share as customer spending continues to rise.

American Express (AXP - Free Report) came out with quarterly earnings of $4.68 per share, beating the Zacks Consensus Estimate of $4.47 per share. This compares to earnings of $4.14 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.70%. A quarter ago, it was expected that this credit card issuer and global payments company would post earnings of $4.41 per share when it actually produced earnings of $4.53, delivering a surprise of +2.72%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

American Express, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $20.06 billion for the quarter ended September 2026, missing the Zacks Consensus Estimate by 0.34%. This compares to year-ago revenues of $18.43 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

American Express shares have lost about 12.1% since the beginning of the year versus the S&P 500's gain of 12%.

What's Next for American Express?While American Express has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for American Express was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $4.35 on $20.76 billion in revenues for the coming quarter and $17.65 on $79.47 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Miscellaneous Services is currently in the bottom 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Brookfield Asset Management (BAM - Free Report) , is yet to report results for the quarter ended September 2026. The results are expected to be released on November 6.

This investment manager is expected to post quarterly earnings of $0.47 per share in its upcoming report, which represents a year-over-year change of +14.6%. The consensus EPS estimate for the quarter has been revised 2.6% lower over the last 30 days to the current level.

Brookfield Asset Management's revenues are expected to be $1.57 billion, up 12.9% from the year-ago quarter.

American Express Company (NYSE:AXP) will release earnings for its third quarter before the opening bell on Friday, Oct. 23.

BOISE, Idaho--(BUSINESS WIRE)--Albertsons Companies, American Express and Imprint announce the launch of the Albertsons forU™ American Express® Card.

IFP Advisors Inc boosted its position in American Express Company (NYSE:AXP) by 13.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,668 shares of the payment services company’s stock after purchasing an additional 2,771 shares during the quarter. IFP Advisors Inc’s holdings in American Express were worth $7,545,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AXP. Archer Investment Corp bought a new stake in shares of American Express in the 2nd quarter valued at about $25,000. Elevation Wealth Partners LLC grew its position in shares of American Express by 78.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 93 shares of the payment services company’s stock worth $28,000 after buying an additional 41 shares during the last quarter. Frazier Financial Advisors LLC grew its position in shares of American Express by 66.7% in the 1st quarter. Frazier Financial Advisors LLC now owns 100 shares of the payment services company’s stock worth $30,000 after buying an additional 40 shares during the last quarter. Evolution Wealth Management Inc. raised its stake in shares of American Express by 58.2% during the 1st quarter. Evolution Wealth Management Inc. now owns 106 shares of the payment services company’s stock worth $32,000 after acquiring an additional 39 shares in the last quarter. Finally, Whipplewood Advisors LLC raised its stake in shares of American Express by 2,550.0% during the 1st quarter. Whipplewood Advisors LLC now owns 106 shares of the payment services company’s stock worth $32,000 after acquiring an additional 102 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Trending Headlines about American Express Here are the key news stories impacting American Express this week:

Positive Sentiment: Strong consumer spending—particularly among affluent customers—continues to support American Express’s payment volumes and earnings outlook. Analysts also point to Wall Street wealth effects as a potential tailwind for discretionary spending. 3 Stocks to Watch as Wall Street Wealth Fuels Consumer Spending Positive Sentiment: American Express is expected to benefit from rising interest income, with consensus estimates calling for year-over-year earnings growth in the upcoming quarterly report. The company’s full-year 2026 EPS guidance remains $17.30 to $17.90. Will Rising Expenses Affect American Express’ Q3 Earnings? Positive Sentiment: The Rakuten American Express Card received a limited-edition NARUTO SHIPPUDEN design, helping refresh the card’s marketing appeal while retaining its existing cash-back rewards and benefits. Rakuten Introduces Limited Edition NARUTO SHIPPUDEN Credit Card Design Neutral Sentiment: American Express is developing AI-powered payment security for purchases initiated by autonomous shopping agents. The technology could support future transaction growth, but its financial impact is not yet clear. Can American Express Turn AI Commerce Into a New Growth Driver? Negative Sentiment: Higher operating expenses are expected to pressure margins and may offset some of the benefit from stronger spending and interest income. Zacks also indicates that AXP lacks the typical combination of factors supporting a likely earnings beat, increasing pre-earnings uncertainty. American Express Earnings Expected to Grow: Should You Buy? Negative Sentiment: Despite its favorable growth profile, American Express trades at a premium valuation, leaving less room for disappointment if quarterly revenue, expenses, or guidance fall short of expectations. Rising credit-card delinquencies are an additional sector risk. American Express Stock Performance AXP opened at $313.47 on Monday. American Express Company has a 52-week low of $290.97 and a 52-week high of $387.49. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66. The company has a market cap of $211.69 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.08. The firm’s 50-day moving average price is $321.12 and its 200-day moving average price is $325.49. American Express (NYSE:AXP – Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, beating the consensus estimate of $4.41 by $0.12. The firm had revenue of $14.99 billion during the quarter, compared to analyst estimates of $19.70 billion. American Express had a net margin of 15.07% and a return on equity of 34.12%. American Express’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $4.08 EPS. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. As a group, equities analysts anticipate that American Express Company will post 17.65 EPS for the current fiscal year.

American Express Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 9th will be paid a dividend of $0.95 per share. The ex-dividend date is Friday, October 9th. This represents a $3.80 dividend on an annualized basis and a yield of 1.2%. American Express’s dividend payout ratio is presently 23.06%.

Wall Street Analysts Forecast Growth A number of research firms recently commented on AXP. BTIG Research decreased their target price on shares of American Express from $315.00 to $230.00 and set a “sell” rating for the company in a research report on Monday, September 7th. JPMorgan Chase & Co. cut their price target on shares of American Express from $400.00 to $360.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. HSBC upped their price target on American Express from $312.00 to $329.00 and gave the stock a “hold” rating in a research report on Monday, July 13th. Loop Capital decreased their price objective on American Express from $389.00 to $386.00 and set a “buy” rating for the company in a report on Monday, July 27th. Finally, Evercore set a $320.00 price objective on American Express in a report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, American Express currently has a consensus rating of “Moderate Buy” and an average price target of $365.63.

View Our Latest Analysis on AXP

(Free Report)

American Express Company is a global financial services company that provides payment, lending, travel and expense management products and services. Its offerings include consumer and small-business charge and credit cards, corporate payment programs, business financing solutions, deposit products and digital payment services.

The company operates an integrated payments network that connects card members, merchants and financial institutions. American Express also provides merchant acquisition and payment processing services, data and analytics, fraud prevention tools, and customer loyalty programs.

Recommended Stories Five stocks we like better than American Express These 3 Green Stocks Have a Growth Story That Goes Far Beyond Washington Meta Claims Frontier-Class AI Status With New Muse Wonder Models Berkshire Just Backed This Little-Known Stock—Should You Chase It? Broadcom’s CEO Sees Years of AI Demand But Warns of a Bigger Threat to the Boom Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXP – Free Report).

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When most of us think of Berkshire Hathaway, we rightfully think of Warren Buffett, who built the company -- and ran it for more than 60 years. But at age 96 now, Buffett has retired, putting a longtime lieutenant, Greg Abel, in charge.

Abel is making some moves of his own, but he -- and Berkshire shareholders -- are also benefiting from moves that Warren Buffett made long ago. Case in point: American Express (AXP -0.09%). Read on, to learn how Berkshire is collecting much more from American Express than it paid for it.

Image source: Getty Images.

Berkshire Hathaway has been an amazing stock performer for decades (especially a few decades ago), but American Express is no slouch, either:

American Express

Average Annual Gain

1 year

(2.97%)

3 years

28.33%

5 years

13.92%

10 years

18.56%

15 years

14.13%

Source: Morningstar.com, as of October 13, 2026.

Over more than 175 years, American Express has grown into a multifaceted financial services company, known most these days for its payment cards. But it also offers banking services, travel support, and payment and expense management tools for businesses. It's also home to a major global electronic transaction network.

Its second-quarter earnings report featured earnings per share (EPS) up 11% year over year, with revenue up 10%. Better still, the company reported card-member spending up, too, by 9%.

The company has long been a dividend payer, and it recently sported a 1.2% dividend yield. Add in the effect of stock buybacks, and the company's total yield is more like 4.7%.

AXP American Express$313.59-$0.28 (-0.09%)

NYSE · As of 4:00 PM ET 10/16/26

Berkshire's American Express Stake
In Berkshire Hathaway's last annual report, for 2025, Greg Abel explained that "a large portion of our [stock] portfolio is concentrated in a small number of American companies such as Apple, American Express, Coca-Cola, and Moody's -- businesses we understand well, have a high regard for their leaders, and expect will compound over decades."

Berkshire bought into American Express over multiple years, ending in 1995. The total cost: $1.3 billion. In the 2025 letter, Abel notes that as of the end of 2025, Berkshire owned 22% of American Express, for a market value then of $56 billion. Most amazing, though, is that Berkshire collected a whopping $479 million in dividends from the company in 2025. At that rate, a mere three years of dividends would more than pay for the cost of the shares.

How is that possible when American Express's dividend yield was recently just 1.2%? Well, it's all because healthy and growing dividend payers tend to increase their payouts over time. American Express's recent total annual dividend payment was $3.54 per share, and that's up from $2.08 in 2022 and $1.22 in 2016.

American Express and you
What can you take from this story? Well, you might want to consider investing in American Express. Its shares actually look a bit undervalued, with a recent forward-looking price-to-earnings (P/E) ratio of 15.3, a bit below the five-year average of 16.8.

Better still, consider looking into any well-priced, healthy and growing dividend payer -- aiming to hang on for years, if not decades. The power of holding on to growing dividends is abundantly clear from Berkshire Hathaway's long-term investment in American Express.

In the world of finance, American Express (AXP -0.09%) is a unique operation. It not only issues cards to customers, taking on credit risk in the process, but it also runs the underlying payments platform that connects merchants and consumers. This is a closed-loop model that allows the business to capture more of the economics anytime its cards are used at checkout.

As of June 30, there were 155 million American Express cards in use in more than 200 countries around the globe, giving it massive reach. It's best known for the Platinum Card, which targets affluent consumers with an $895 annual fee that comes with valuable perks and rewards.

Even Warren Buffett has long been a fan of the company. Berkshire Hathaway owns 151.6 million shares, giving it a 22.5% stake in American Express. That's a major vote of confidence.

Prospective investors might be interested in adding the business to their portfolios. The financial stock trades 20% off its record from December 2025 (as of Oct. 14). But what will the fourth quarter bring? Here's what history says.

Image source: The Motley Fool.

Looking at every fourth quarter since 2020 This decade, the fourth quarter of each calendar year has rewarded investors with positive returns far more frequently than declines. During Q4 2021, the stock dipped 2%. That small blip was hardly a reason to panic.

In the fourth quarters of 2020 (+21%), 2022 (+10%), 2023 (+26%), and 2025 (+11%), American Express posted double-digit gains. During Q4 2024, the stock rose 9%, which was still a very respectable performance.

So far this month, shares have risen by just 1%. Looking at the data, however, history says that the payments stock could end this year on a high note. Past performance never guarantees future results, but that track record is hard to ignore.

Think in terms of years, not months It can be challenging not to try to assess what a particular stock will do in the next few months. But these short-term price swings are impossible to predict. Weaker market sentiment, which can occur for any number of reasons, can send shares quickly lower.

These moves, however, have minimal impact on an outstanding company's long-term trajectory. The best investors always keep this in the back of their minds. Focus on the next five years and beyond. That's where the wealth is made.

$313.59-$0.28 (-0.09%)

NYSE · As of 4:00 PM ET 10/16/26

With American Express, investors will find that the valuation is very attractive. The stock trades at a forward price-to-earnings ratio of 15.1. Compared to the S&P 500 index's multiple of 19.6, this is a notable 23% discount.

Just because a stock looks cheap, though, it doesn't automatically mean you should buy it. Investors must make sure this is a high-quality company.

With American Express, it starts with the wide economic moat. Its brand exudes status and trust that rival banks dream of, enabling the business to occasionally increase annual fees without disturbing new card additions. And the payments infrastructure supports a two-sided network effect that becomes more valuable to stakeholders as it gets bigger.

The moat shows up in the financial results. Revenue and net income both increased by 11% last quarter (Q2 ended June 30). These aren't flashy gains, but the consistency and durable is what matters.

Management expects the growth to continue. The long-term target calls for 10% (or more) revenue and mid-teens earnings per share (EPS) gains, respectively. Besides higher card fees and more card members, American Express sees each customer spend more over time.

Shareholders also benefit from ongoing stock buyback activity. The business reduced its diluted outstanding share count by 3% in the past 12 months, supporting EPS trends.

Viewed next to the valuation, these favorable traits make American Express a worthy investment candidate.

Key Takeaways AXP's Q3 earnings are expected to rise 8% to $4.47 per share, with revenues growing 9.3% to $20.13 billion.Strong network volumes, expanding card adoption and an 11% rise in net interest income may support AXP's Q3.Rising engagement costs, credit provisions and premium valuation temper AXP's growth outlook.
American Express Company (AXP - Free Report) is set to report third-quarter 2026 results on Oct. 23, before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $4.47 per share, and the same for revenues is pinned at $20.13 billion.

The third-quarter earnings estimate witnessed two downward revisions over the past seven days against no upward movements. The bottom-line prediction indicates a year-over-year increase of 8%. The consensus estimate for quarterly revenues implies year-over-year growth of 9.3%.

Image Source: Zacks Investment Research

For full-year 2026, the Zacks Consensus Estimate for American Express’ revenues is pegged at $79.47 billion, implying a rise of 10% year over year. Meanwhile, the consensus mark for full-year EPS is pegged at $17.65, implying growth of 14.8% on a year-over-year basis.

AXP beat the consensus estimate in three of the last four quarters and missed once, with the average surprise being 3.3%.

Q3 Earnings Whispers for American ExpressOur proven model does not conclusively predict a likely earnings beat for the company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that’s not the case here.

AXP has an Earnings ESP of -0.17% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

You can see the complete list of today’s Zacks #1 Rank stocks here.

What Is Shaping AXP’s Q3 Results?American Express is expected to see a rise in network volumes during the third quarter, likely attributable to the resilient consumer spending of its premium customer base, which is less impacted by economic volatility. The Zacks Consensus Estimate for third-quarter total network volumes indicates 8.6% year-over-year growth from $479.20 billion.

Discount revenues, a key source of AXP’s top line, are expected to have benefited from rising network volumes. The consensus mark for third-quarter Discount revenues indicates 8% year-over-year growth. Billed businesses in U.S. Consumer Services and Commercial Services are expected to witness growth of 9.6% and 3.5% year over year, respectively.

Cards-in-force are expected to increase in the quarter on the back of expanding product offerings and stronger market penetration. The consensus projection for third-quarter total cards-in-force indicates 3.8% year-over-year growth. The estimate for the Average fee per card also implies a 12.3% year-over-year increase.

AXP’s interest income, another major revenue contributor, is expected to rise on higher loan receivables. The estimate for net interest income implies an upside of 11% from the year-ago reported figure.

The above factors are expected to support year-over-year growth in the quarter to be reported. However, higher customer engagement and operating costs could limit the upside. Third-quarter client engagement costs are expected to have increased due to expanding Card Member spending and higher usage of travel and lifestyle-related benefits.

The Zacks Consensus Estimate for pre-tax income from Commercial Services indicates a 12.8% decline, while pre-tax income from U.S. Consumer Services indicates a 9% year-over-year decrease.

AXP’s Price Performance & ValuationAXP stock has declined 9.5% over the past year, outperforming the industry’s fall of 27.2%. During this time, Visa Inc. (V - Free Report) has gained 16.9%, and Mastercard Incorporated (MA - Free Report) has risen 9.8%. The S&P 500 Index has climbed 16.7% during the same period.

Price Performance – AXP, V, MA, Industry & S&P 500
Image Source: Zacks Investment Research

Now, let’s look at the value American Express offers investors at current levels.

Currently, AXP is trading at 15.93X forward 12-month earnings, above the industry’s average of 14.61X, marking it overvalued. However, it is much cheaper compared to its peers like Visa and Mastercard, which are valued at 22.90X and 25.44X F12M P/E, respectively.

Image Source: Zacks Investment Research

How to Play American Express Stock Now?AXP presents a balanced investment case, supported by resilient spending among affluent consumers, expanding card adoption and rising interest income. Its integrated payments model, strong brand recognition and growing appeal among younger consumers strengthen its competitive position. Premium offerings, travel-related benefits and disciplined capital management further support long-term growth prospects.

However, rising customer engagement expenses, elevated credit provisions and increasing debt levels remain concerns. Higher operating costs could constrain profitability despite improving business volumes. Moreover, AXP's premium valuation relative to the industry may limit near-term upside, particularly amid prevailing economic uncertainties.

Although the stock has demonstrated relative resilience against its industry, these challenges warrant a cautious approach. Existing investors may consider retaining their positions, while prospective investors could await more attractive entry points or clearer signs of margin improvement and sustainable earnings growth.

The Rakuten American Express® Card gets an exclusive design featuring two iconic anime characters, with the same Cash Back rewards and perks cardholders already enjoy.

, /PRNewswire/ -- Rakuten, the leading Cash Back shopping platform, today announced the Rakuten American Express® Card Limited Edition NARUTO SHIPPUDEN Design. Created in partnership with VIZ Media, the design features Naruto Uzumaki and Sasuke Uchiha — two iconic characters from one of Japan's most influential pop-culture franchises of the 21st century. As a company founded in Japan, Rakuten is celebrating a shared heritage alongside characters recognized by fans around the world.

Rakuten American Express® Card Featuring Naruto and Sasuke The story of Naruto and Sasuke — a famous rivalry that grows into loyalty and, eventually, brotherhood — is one of the most enduring arcs in the series, tracing a complex history between the two characters.

"Rakuten is all about making everyday life more rewarding for our members, and this partnership with NARUTO SHIPPUDEN is yet another way we're bringing that to life," said Wendy Bergh, Chief Marketing Officer of Rakuten Rewards. "Naruto has connected deeply with fans for decades, and we're thrilled to celebrate their fandom with a limited edition design that turns everyday purchases into something even more rewarding."

The Rakuten American Express® Card has no annual fee1 and earns cardholders an extra 4% Cash Back on eligible Rakuten purchases2 — this is on top of what they already earn shopping on Rakuten's platform of more than 3,500 stores in-person or online. Cardholders also get 10% Cash Back on Rakuten Dining, 2% on groceries and restaurants and 1% on all other eligible purchases3. Plus, new cardholders receive a $100 welcome bonus after spending $1,000 on eligible purchases within the first 90 days on their Rakuten American Express® Card4. See the Rewards Program Terms and Conditions for full details and exclusions.

Cardholders also have access to American Express Network benefits, including Amex Offers for shopping, dining and travel, Amex Experiences™ spanning music, theater, sports events and more, along with retail protections. 

The limited edition design option is available while supplies last to the first 10,000 new cardholders who accept their offer for the Rakuten American Express® Card5. To sign up for Rakuten and apply for the credit card, click here. The NARUTO SHIPPUDEN design is available to new cardholders only.

About Rakuten:
Rakuten Rewards is the most rewarding way to shop, giving millions of members Cash Back when they buy from their favorite brands. As a leading shopping platform, Rakuten partners with thousands of top brands across apparel, beauty and wellness, grocery, travel, on-demand services, subscriptions, and dining, helping members save on everyday purchases. Since 1999, Rakuten members have earned more than $4.6 billion in Cash Back, making it the largest Cash Back platform of its kind. Learn more at Rakuten.com.

Rakuten's shopping rewards platform is free and easy to use. With Rakuten, almost every purchase comes with Cash Back, including clothing, travel, dining and groceries. Members earn across thousands of partner brands online through the browser extension, Rakuten.com, or the app, and in-store at participating locations. Rakuten also gives members the power to choose how they get paid, with options including quarterly payouts via PayPal or check, American Express Membership Rewards® points6 or Bilt Points, and an instant gift card from over 50 brands.

Rakuten® is a registered trademark of Rakuten Group, Inc., registered in the U.S. and other countries. All other trademarks are property of their respective owners. © 2026 Ebates Performance Marketing, Inc.

Follow Rakuten on: Instagram | TikTok | Facebook | Threads

About NARUTO
Naruto Uzumaki wants to be the best ninja in the land. He's done well so far, but with the looming danger posed by the mysterious Akatsuki organization, Naruto knows he must train harder than ever and leaves his village for intense exercises that will push him to his limits. Two and a half years later, Naruto returns to find that everyone's been promoted up the ninja ranks—except him. Sakura's a medic ninja, Gaara's advanced to Kazekage, and Kakashi, well, he's the same. But pride isn't becoming of a ninja, especially when Naruto realizes that Sasuke never returned from his search for Orochimaru. Plus, the mysterious Akatsuki organization is still an everpresent danger. As Naruto finds out more about the Akatsuki's goals, he realizes that nothing in his universe is as it seems. Naruto is finding that he's older, but will he prove wiser or stronger?

About VIZ Media
Wherever manga and anime fans are, we are! VIZ Media is No. 1 in Japanese pop culture, introducing fans to what's now, new, and next. Home to the world's most influential and groundbreaking storytellers and artists, who today drive multiple industries from publishing and animation to film and gaming. If it's big in Japan, you can find it at VIZ.

VIZ Media is proudly certified as a Most Loved Workplace® in America and Inc Magazine's Best Workplace. For more information on VIZ Media visit: https://www.viz.com/

About Imprint
Imprint is the payments, loyalty, and intelligence platform brands like Shell, Kroger, and Booking.com use to make every transaction more valuable. Through co-branded financial products, Imprint helps brands learn from customer interactions and deliver personalized recognition and rewards. With more than two million members nationwide, we're on a mission to turn every customer into a regular. Founded in 2020, Imprint is headquartered in New York City. For more information, visit www.imprint.co.

About American Express
American Express (NYSE: AXP) is a global payments and premium lifestyle brand powered by technology. Our colleagues around the world back our customers with differentiated products, services, and experiences that enrich lives and build business success.

Founded in 1850 and headquartered in New York, American Express' brand is built on trust, security, service, and a rich history of delivering innovation and Membership value for our customers. We seek to provide the world's best customer experience every day to a broad range of consumers, small and medium-sized businesses, and large corporations, and we build and manage relationships with millions of merchants across our global network.

For more information about American Express, visit americanexpress.com, americanexpress.com/en-us/newsroom/, and ir.americanexpress.com.

The Rakuten American Express® Card is issued by First Electronic Bank, pursuant to a license from American Express. American Express and the American Express logos are trademarks of American Express Company and its affiliates. The Rakuten American Express® Card is powered by Imprint Payments, Inc.

1 Subject to eligibility. See Credit Program Cardholder Agreement.

2 Earn an additional 4% Cash Back on eligible Rakuten purchases (online & in-store), up to $10,000 in a calendar year, 1% Cash Back on eligible Rakuten purchases after the $10,000 cap, on your Rakuten American Express® Card. Eligibility may be based on Merchant Category Codes (MCCs) assigned by the merchant's payment processor. Purchases made at merchants that do not process transactions under an eligible MCC may not qualify. Eligible MCCs are determined and managed by Imprint and Rakuten and are subject to change at any time without notice. See the Rewards Program Terms and Conditions for full details and exclusions.

3 You will earn rewards on eligible purchases only. See Terms & Conditions for details.

4 To qualify for the $100 bonus, you must make eligible purchases totaling $1000 or more using your Rakuten American Express® Card within 90 days of account approval. The bonus will be awarded as Cash Back after the 90 day qualification period has ended, and may take up to an additional 15 days to post to your Rakuten account. Restrictions and exclusions apply. See the Rewards Program Terms and Conditions for details. This offer is not transferable. Imprint reserves the right to modify or revoke this offer at any time. Subject to approval and eligibility.

5 Limited time offer valid for the first 10,000 new cardholders who accept their offer beginning October 15, 2026. While supplies last.

6 Requires a Membership Rewards-enrolled American Express® Card (Issued by American Express).

SOURCE Rakuten

Key Takeaways AXP launched Intent Intelligence to verify purchase instructions and spending limits for AI agents.Intent IDs and Proof of Intent Tokens aim to secure payments and improve fraud prevention.Wider adoption could boost payment volumes and revenues, though commercial benefits remain uncertain. American Express Company (AXP - Free Report) is advancing its AI-powered payment strategy with its new Intent Intelligence framework. The framework captures and authenticates customers’ purchase instructions and spending limits before AI agents complete transactions, helping ensure purchases align with customer authorization.

The framework uses an Intent ID and a Proof of Intent Token to preserve purchase intent throughout the transaction process. The token can also enable secure payment credentials, allowing AI agents to transact without using customers’ actual card numbers. These controls could strengthen fraud prevention, improve authorization decisions and streamline dispute resolution. AmEx has made the framework available through its Agentic Commerce Experiences (ACE) Developer Kit and is collaborating with industry groups to advance common standards.

The initiative comes as AI agents take on a larger role in shopping and payments. By embedding security and customer control into transactions, AmEx could strengthen cardholder trust and encourage adoption. Its position as both a card issuer and payment network could provide an advantage in connecting customers, merchants and AI platforms. However, the framework's commercial impact will depend on ecosystem adoption and transaction growth.

Financially, broader adoption could support payment volumes and associated revenues while lowering fraud- and dispute-related costs. Although these benefits remain uncertain, the framework could reinforce AmEx's competitive position, strengthen customer loyalty and create incremental growth opportunities as AI-driven commerce expands.

How Are Competitors Faring?American Express faces intense competition in the payments space from Mastercard Incorporated (MA - Free Report) and Visa Inc. (V - Free Report) .

Mastercard's Verifiable Intent framework, developed with Google, aims to establish tamper-resistant proof that AI agents act within customer-approved limits. Its planned integration into Mastercard Agent Pay's intent APIs could strengthen transaction security, improve accountability and support the expansion of AI-driven payment flows.

Visa's Intelligent Commerce initiatives could help it capture additional payment volumes as AI agents handle more shopping activities. Its Trusted Agent Protocol verifies legitimate AI agents, while tokenization helps secure transactions. Wider adoption among merchants and AI platforms could strengthen Visa's position in the emerging agentic commerce market.

AXP’s Price Performance, Valuation & EstimatesShares of AXP have lost 6.3% over the past year compared with the industry’s 25.9% decline.

Image Source: Zacks Investment Research

From a valuation standpoint, AXP trades at a forward price-to-earnings ratio of 15.74, up from the industry average of 15.21. AXP carries a Value Score of C.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for AXP’s 2026 earnings is pegged at $17.65 per share, implying a 14.8% jump from the year-ago period’s level.

Image Source: Zacks Investment Research

AXP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Personal AI agents are increasingly making transactions on their users’ behalf, but given the nondeterministic nature of large language models, AI bots are prone to doing what they’re not supposed to. Which, in this case, raises the possibility of AI misfiring and making unauthorized transactions.

To get ahead of this problem, American Express is introducing a new framework designed to capture and authenticate a customer’s purchase intent before an AI agent completes the transaction.

The idea is that there should be a way to ensure that the customer’s purchase instructions are carried throughout the transaction lifecycle, Amex says, from the purchase to everything that follows.

Dubbed the “Intent Intelligence Framework,” the company hopes it will become an industry standard for AI-powered transactions.

“These new transactions will have a consumer, a merchant, and an agent,” explained Amex’s VP of Agentic Partnerships and Strategy, Hannah Bozian, in an interview with TechCrunch. She said the company wanted to ensure that agentic transactions are still “seamless, trusted, and secure, the way our card members expect them to be.”

This framework’s release follows the company’s April launch of Amex’s Agentic Commerce Experiences, or the ACE Developer Toolkit, which includes a handful of services that now include the intent framework.

Amex said it has not yet seen an increase in disputes because of agentic commerce, but it wanted to be proactive in building this technology as this type of commerce scales. In part, that’s because consumers have signaled they’re open to trying agentic commerce.

In a recent Amex Trendex report, 66% of surveyed U.S. consumers said they’re likely to use AI agents to research the best price for a product or service, and 61% said they’re likely to use it for a product or service recommendation over the next 12 months, the company told TechCrunch.

To start, Amex’s new intent framework begins with a Create Intent API, which will capture the customer’s purchase instructions along with other constraints they may have included in their request, like the merchant’s name, maximum budget, and other product preferences. How this intent is collected may vary depending on the AI model involved, but the plan is to make this framework flexible enough to support all agentic commerce models, Bozian said.

The customer then authenticates their identity and signs off on the intent captured by the agent.

Then an Intent ID, a unique identifier representing the intent, is created, along with a Proof of Intent Token, which includes the customer’s high-level constraints. This token is used to obtain a secure digital payment credential that the agent will use at checkout instead of the customer’s actual credit card number. In doing so, Amex says, the purchase will remain secure while being aligned with what the customer authorized the agent to do.

This Intent ID and token can also be used in different parts of the transaction process, helping companies to manage areas like fraud prevention and dispute resolution, Amex said.

“Our approach differs from the implementations of others in that it pulls intent earlier into the transaction flow. And this is important because it helps mitigate some risk before the risk occurs,” said Bozian. She offered the example of a customer asking an agent to buy white Nike sneakers in a size 9, but the agent submits a request to purchase shoes from Adidas. In such a case, Amex could prevent the transaction from going through because the agent made a mistake.

Bozian also notes that while many agents today ask for customer consent before making a purchase, Amex foresees a future where agents may act much more autonomously in some cases. For instance, a consumer might allow their agent to re-order household staples, like paper towels or toilet paper — categories in which the only real constraint is the price and size, not merchant or brand. In these scenarios, it makes sense to have technology in the loop performing that extra check, to ensure the transactions match the customer’s intent.

Having a log of what was authorized by which agent and when could also help address fraud on behalf of the agent, she noted.

Amex is already in discussions with partners across the payments ecosystem for implementing ACE, which includes the agentic tokens that contain Amex’s payment credentials, as well as other parts of the developer kit.

The company said it plans to actively develop ACE further as the agentic commerce ecosystem evolves.

On October 13 at TechCrunch Disrupt 2026‘s Industry Stage, Amex VP of Agentic Partnerships and Strategy at American Express, Hannah Bozian, will discuss the company’s new “Intent Intelligence Framework” in more detail, and what it means for the world of agentic commerce.

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New sponsorship in Hong Kong puts American Express at the heart of SailGP's debut in the city, with eligible Cardmembers to receive exclusive pre-sale access and savings to the opening event of the Rolex SailGP Championship 2027 Season. Ticket details revealed.

DOWNLOAD FURTHER IMAGERY

, /PRNewswire/ -- SailGP today announced American Express as Title Sponsor of the inaugural American Express Hong Kong Sail Grand Prix, as the Rolex SailGP Championship prepares for its highly-anticipated debut in one of Asia's most influential lifestyle and entertainment destinations on January 23-24, 2027.

"Artist’s impression of SailGP’s F50 catamarans racing on Hong Kong’s iconic Victoria Harbour ahead of the inaugural American Express Hong Kong Sail Grand Prix on January 23–24, 2027. Disclaimer: Concept image for illustrative purposes only."

The sponsorship will put American Express at the heart of SailGP's Hong Kong debut, connecting Cardmembers with special access and premium experiences around the city. These include a Cardmember priority booking ahead of wider ticket sales, exclusive savings on ticket purchase as well as other race-day experiences, as the Championship opens its 2027 Season against the iconic backdrop of Victoria Harbour.

As Title Sponsor of the Hong Kong Sail Grand Prix, American Express will be integrated across the SailGP Race Stadium and event experience, connecting the brand with SailGP's unique combination of high-speed racing, premium hospitality, technology and entertainment.

As part of the announcement, SailGP also confirmed presale windows and on-sale dates for tickets to the new event, with eligible American Express Cardmembers receiving first access through an exclusive priority booking on October 21-22, 2026.

SailGP+ members will have their exclusive presale window October 23-26, before tickets go on sale to the public on October 27. Tickets are limited and fans are encouraged to get in early to avoid missing out on their place to see the world's most exciting racing on water as identical high-tech F50 catamarans race just metres from shore at speeds exceeding 100 km/h.

KEY EVENT INFORMATION:

American Express Priority Booking: 10am HKT Wednesday, October 21 - 5pm HKT Thursday, October 22*
- Waterfront Grandstand: $700 One-day | $1,120 Race Weekend
SailGP+ Pre-sale: 10am HKT Friday, October 23 - 5pm HKT Monday, October 26* – exclusive to SailGP+ members, sign up at SailGP.com/HongKong 
General Public On-sale: From 10am HKT Tuesday, October 27
Event Date: Saturday & Sunday, January 23-24, 2027
Location: Kai Tak Cruise Terminal, Hong Kong
* Or until allocations are exhausted.

The American Express Hong Kong Sail Grand Prix will mark SailGP's first event in Hong Kong and the opening event of the 2027 Rolex SailGP Championship Season. The Championship will bring its close-to-shore stadium racing format to Victoria Harbour, transforming the waterfront into a purpose-built Race Stadium across two action-packed days.

SailGP CEO and co-Founder Sir Russell Coutts said: "Hong Kong is an incredibly important market for SailGP and the perfect venue to begin our 2027 Season. It is a city defined by global ambition, energy and world-class experiences, and American Express is an ideal partner to help us bring this new event to life."

"We are a global sports and entertainment property that brings together elite racing, technology, hospitality and culture in the world's most iconic cities. With American Express joining us as Title Sponsor, we have an opportunity to create something genuinely distinctive for fans and guests in Hong Kong from the very first event."

Walter Liu, Head of Asia Region at American Express said: "At American Express, we are constantly looking for new ways to make Cardmembership more rewarding, from premium benefits to access to some of the most sought-after events in Hong Kong and beyond. We are delighted to be the Title Sponsor of the inaugural American Express Hong Kong Sail Grand Prix, which sets to bring that commitment to life by giving our Cardmembers privileged access and exclusive benefits to a world-class sporting event right here in Hong Kong."

The American Express Hong Kong Sail Grand Prix is proud to be an "M" Mark event that helps enhance the image of Hong Kong as Asia's sports event capital. The "M" Mark awarded by the Major Sports Events Committee, symbolises intense, spectacular and signature events in the territory sports calendar.

ROLEX SAILGP CHAMPIONSHIP – 2027 SEASON CALENDAR

JAN 23-24 – American Express Hong Kong Sail Grand Prix
FEB 20-21 – Australia Sail Grand Prix | Perth
APR 3-4 – San Francisco Sail Grand Prix
MAY 1-2 – Apex Group Bermuda Sail Grand Prix
MAY 15-16 – Canada Sail Grand Prix | Halifax
JUNE 5-6 – New York Sail Grand Prix
JULY 24-25 – Emirates Great Britain Sail Grand Prix | Portsmouth
AUG 14-15 – Germany Sail Grand Prix | Sassnitz
SEP 4-5 – Spain Sail Grand Prix | Valencia
SEP 11-12 – Italy Sail Grand Prix | Rome
OCT 9-10 – Enel Rio Sail Grand Prix
NOV 20-21 – Emirates Dubai Sail Grand Prix, presented by DP World
NOV / DEC TBC – Rolex SailGP Championship 2027 Season Grand Final.

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ABOUT AMERICAN EXPRESS | American Express (NYSE: AXP) is a global payments and premium lifestyle brand powered by technology. Our colleagues around the world back our customers with differentiated products, services and experiences that enrich lives and build business success.

Founded in 1850 and headquartered in New York, American Express' brand is built on trust, security and service, and a rich history of delivering innovation and Membership value for our customers. We seek to provide the world's best customer experience every day to a broad range of consumers, small and medium-sized businesses, and large corporations, and we build and manage relationships with millions of merchants across our global network.

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It's been a tough year for American Express (AXP +1.09%). Shares have fallen 18% in 2026 (as of Oct. 8). The overall market, on the other hand, has advanced 14% this year.

The financial stock currently sits at about $302 per share, which is only 4% above its 52-week low from March. That's also below the average price of $315.77 that the leadership team paid to repurchase 7.1 million shares during the second quarter.

Does this mean that American Express is a smart buying opportunity right now? Here's how investors should make sense of the situation.

Image source: The Motley Fool.

The business buys back shares every quarter
During the three months that ended June 30, American Express spent $2.2. billion in total on stock buybacks. At the end of Q2, the diluted outstanding share count was 3% lower than a year ago. Investors appreciate this trend, as it provides a lift to earnings per share (EPS).

Now that the stock price is below what management paid, astute investors are wondering whether this is a valuable signal that it's time to add the premium credit card enterprise to their portfolios. The company's executive team should have a firm grasp of the intrinsic value. Repurchasing shares should be done at attractive stock prices. This suggests that shares could be even more undervalued today.

But it's important to take a step back and realize that American Express is a perennial share repurchaser. It bought back $1.7 billion worth of stock in the first quarter, after repurchasing $5.3 billion all of last year. During Q4 2025, when the shares reached a record high, the company still spent $899 million repurchasing shares.

The activity does fluctuate. In recent years, buybacks have been highest in the third quarter, with much less repurchasing happening in Q4. In Q3 last year, for instance, American Express spent $2.5 billion buying back stock at its then-all-time high. It's hard to make any definitive conclusions.

Premium Feature

Moneyball Superscore

86/100

Today's Change

(

1.09

%) $

3.36

Current Price

$

311.53

Think about the next five years
I believe investors should spend more time focusing their attention on what the future will bring. Think about American Express through the lens of a potential long-term investment. Although the stock is down 18% this year, the underlying business is still operating at full strength.

The company raised its quarterly dividend in March by 16%. And it maintained 2026 EPS guidance within a range of $17.30 to $17.90, equating to a 14% increase (at the midpoint) year over year. These are signs of a healthy business that's performing well amid an uncertain macroeconomic environment.

It might be a smart idea to buy the dip on American Express.

American Express is an advertising partner of Motley Fool Money. Neil Patel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends American Express. The Motley Fool has a disclosure policy.

American Express (AXP - Free Report) closed the most recent trading day at $311.53, moving +1.09% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.06%. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq lost 0.44%.

The stock of credit card issuer and global payments company has fallen by 5.09% in the past month, lagging the Finance sector's loss of 2.69% and the S&P 500's gain of 2.36%.

The investment community will be paying close attention to the earnings performance of American Express in its upcoming release. The company is slated to reveal its earnings on October 23, 2026. On that day, American Express is projected to report earnings of $4.5 per share, which would represent year-over-year growth of 8.7%. In the meantime, our current consensus estimate forecasts the revenue to be $20.09 billion, indicating a 9.03% growth compared to the corresponding quarter of the prior year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $17.67 per share and revenue of $79.47 billion, indicating changes of +14.89% and +10.03%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for American Express. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. American Express is currently sporting a Zacks Rank of #3 (Hold).

With respect to valuation, American Express is currently being traded at a Forward P/E ratio of 17.44. This expresses a premium compared to the average Forward P/E of 10.93 of its industry.

It's also important to note that AXP currently trades at a PEG ratio of 1.33. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Financial - Miscellaneous Services industry had an average PEG ratio of 1.03.

The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 166, placing it within the bottom 33% of over 250 industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

AXP Investors with $100,000 in Losses Have Opportunity to Join American Express Company Fraud Investigation with SBS Law Schall, Brown & Schwartz LLP (“SBS”), a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of American Express Company (“American Express” or “the Company”) (NYSE: AXP) for violations of the securities laws.

INVESTIGATION DETAILS: The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Reuters reported on October 8, 2026, that “US bank regulators fined American Express $350 million after they determined the lender's programs to identify potential money laundering were insufficient and the company potentially missed billions of dollars in suspicious activity.”

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall or David Schwartz of Schall, Brown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

WHY SBS? Schall, Brown & Schwartz LLP represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Bringing together the extensive experience and diverse skillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz, SBS is dedicated to aggressively advocating for every investor.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261010585936/en/

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

Click for the complete disclosure