Core Insights - American Express reported a 16% increase in third-quarter profits, reaching $2.9 billion, driven by higher card spending among affluent customers [1][5] - The company raised its full-year profit forecasts, expecting earnings per share between $15.20 and $15.50 [6] Financial Performance - Earnings for the quarter were $2.9 billion, up from $2.51 billion a year earlier, with earnings per share increasing to $4.14 from $3.49 [1] - Average spending on AmEx cards rose by 5% year-over-year, reaching $6,387 [5] - Total loans reported by the company increased by 8% year-over-year, amounting to $138.95 billion [5] Product and Market Dynamics - AmEx's refreshed Platinum Card, which now has an annual fee of $895, has not deterred customer interest, as evidenced by 500,000 requests for card conversions within three weeks [2][4] - The high net worth credit card market is experiencing heightened competition, with major players like JPMorgan Chase and Citigroup launching new or revamped products [3] Customer Engagement - The demand for the new U.S. Platinum account has doubled compared to pre-refresh levels, indicating strong customer engagement [5]

Core Insights - American Express (AXP.US) reported Q3 earnings that exceeded expectations, with revenue of $18.43 billion, a year-over-year increase of 10.8%, and non-GAAP EPS of $4.14, surpassing market forecasts [1] - The company launched an updated version of its Platinum Card, which saw initial demand exceed expectations, doubling account acquisition compared to pre-update levels [1] - The company raised its annual revenue guidance, now expecting a growth of 9% to 10%, with EPS projected between $15.20 and $15.50, compared to market expectations of 8.95% and $15.34 respectively [2] Revenue and Earnings - Q3 revenue reached $18.43 billion, reflecting a 10.8% increase year-over-year [1] - The company’s Q3 billings amounted to $421 billion, exceeding analyst expectations of $415.2 billion [1] - Full-year revenue guidance was raised, with the lower end now set at 9% growth [2] Expenses and Costs - Consolidated expenses for the quarter rose to $13.3 billion, slightly above analyst estimates of $13.03 billion, attributed to increased user engagement costs related to travel and lifestyle benefits [2] - The increase in expenses was noted to be lower than the growth in earnings [2] Credit Quality - The CEO emphasized that despite market concerns regarding credit conditions, the company maintains excellent credit quality [3]

Core Insights - American Express exceeded earnings expectations and raised its outlook due to strong demand for its premium Platinum card [1] Financial Performance - The company reported better-than-expected earnings, indicating robust financial health and effective management strategies [1] Market Demand - There is a notable increase in demand for the higher-priced premium Platinum card, reflecting consumer preference for premium financial products [1]

Core Insights - The credit card and payments company has raised its full-year guidance for revenue and earnings-per-share growth [1] Group 1 - The company is optimistic about its financial performance, indicating a positive outlook for the remainder of the year [1]

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Core Insights - American Express's revenue increased significantly as cardholders increased their spending [1] - The company has narrowed its full-year revenue outlook, indicating confidence in continued consumer spending [1] Financial Performance - The revenue growth reflects a robust demand for American Express's services, driven by higher cardholder spending [1] - The company is adjusting its financial forecasts based on current spending trends among consumers [1]

Consolidated Statements of Income This section details the company's financial performance, including revenues, credit losses, expenses, and net income [Total Revenues Net of Interest Expense](index=1&type=section&id=Total%20Revenues%20Net%20of%20Interest%20Expense) The company achieved $18,426 million in total revenues net of interest expense in Q3 2025, an 11% YOY increase | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YOY % change | YTD'25 (million USD) | YTD'24 (million USD) | YOY % change | | :-------------------------------- | :--------------- | :--------------- | :----------- | :--------------- | :--------------- | :----------- | | **Non-Interest Income** | | | | | | | | Discount Revenue | 9,413 | 8,780 | 7 | 27,517 | 26,015 | 6 | | Net Card Fees | 2,551 | 2,170 | 18 | 7,364 | 6,204 | 19 | | Service Fees and Other Income | 1,976 | 1,680 | 18 | 5,526 | 5,046 | 10 | | **Total Non-Interest Income** | **13,940** | **12,630** | **10** | **40,407** | **37,265** | **8** | | **Interest Income** | | | | | | | | Interest on Loans | 5,970 | 5,442 | 10 | 17,170 | 15,592 | 10 | | Interest and Dividends on Investment Securities | 15 | 18 | (17) | 46 | 68 | (32) | | Bank Deposits and Other | 632 | 689 | (8) | 1,800 | 2,058 | (13) | | **Total Interest Income** | **6,617** | **6,149** | **8** | **19,016** | **17,718** | **7** | | **Interest Expense** | | | | | | | | Deposits | 1,371 | 1,446 | (5) | 4,082 | 4,298 | (5) | | Long-Term Debt and Other | 760 | 697 | 9 | 2,092 | 1,915 | 9 | | **Total Interest Expense** | **2,131** | **2,143** | **(1)** | **6,174** | **6,213** | **(1)** | | **Net Interest Income** | **4,486** | **4,006** | **12** | **12,842** | **11,505** | **12** | | **Total Revenues Net of Interest Expense** | **18,426** | **16,636** | **11** | **53,249** | **48,770** | **9** | [Provisions for Credit Losses](index=1&type=section&id=Provisions%20for%20Credit%20Losses) Total provisions for credit losses in Q3 2025 were $1,287 million, a 5% year-over-year decrease | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YOY % change | YTD'25 (million USD) | YTD'24 (million USD) | YOY % change | | :------------------- | :--------------- | :--------------- | :----------- | :--------------- | :--------------- | :----------- | | Card Member Receivables | 190 | 170 | 12 | 562 | 592 | (5) | | Card Member Loans | 1,030 | 1,114 | (8) | 3,025 | 3,098 | (2) | | Other | 67 | 72 | (7) | 255 | 203 | 26 | | **Total Provisions for Credit Losses** | **1,287** | **1,356** | **(5)** | **3,842** | **3,893** | **(1)** | [Expenses](index=1&type=section&id=Expenses) Total expenses for Q3 2025 were $13,314 million, an increase of 10% year-over-year | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YOY % change | YTD'25 (million USD) | YTD'24 (million USD) | YOY % change | | :----------------------- | :--------------- | :--------------- | :----------- | :--------------- | :--------------- | :----------- | | Card Member Rewards | 4,608 | 4,168 | 11 | 13,604 | 12,169 | 12 | | Business Development | 1,611 | 1,430 | 13 | 4,729 | 4,249 | 11 | | Card Member Services | 1,477 | 1,179 | 25 | 4,106 | 3,504 | 17 | | Marketing | 1,599 | 1,470 | 9 | 4,640 | 4,426 | 5 | | Salaries and Employee Benefits | 2,239 | 2,049 | 9 | 6,511 | 6,096 | 7 | | Professional Services | 623 | 579 | 8 | 1,755 | 1,576 | 11 | | Data Processing and Equipment | 751 | 725 | 4 | 2,176 | 2,083 | 4 | | Other, Net | 406 | 476 | (15) | 1,181 | 635 | 86 | | **Total Expenses** | **13,314** | **12,076** | **10** | **38,702** | **34,738** | **11** | [Net Income and EPS](index=1&type=section&id=Net%20Income%20and%20EPS) Net income for Q3 2025 was $2,902 million, up 16% year-over-year, with diluted EPS at $4.14, up 19% | Metric | Q3'25 | Q3'24 | YOY % change | YTD'25 | YTD'24 | YOY % change | | :----------------------------------- | :------ | :------ | :----------- | :------- | :------- | :----------- | | Net Income (million USD) | $2,902 | $2,507 | 16 | $8,371 | $7,959 | 5 | | Net Income Attributable to Common Shareholders (million USD) | $2,868 | $2,474 | 16 | $8,272 | $7,856 | 5 | | Diluted EPS (USD) | $4.14 | $3.49 | 19 | $11.85 | $10.97 | 8 | | Average Common Shares Outstanding (million) | 693 | 709 | (2) | 698 | 716 | (3) | | Cash Dividends Per Share (USD) | $0.82 | $0.70 | 17 | $2.46 | $2.10 | 17 | | Effective Tax Rate | 24.1% | 21.8% | | 21.8% | 21.5% | | Consolidated Balance Sheets and Related Statistical Information This section presents the company's financial position, including assets, liabilities, and equity, along with key financial ratios [Assets](index=2&type=section&id=Assets) Total assets reached $297,550 million at the end of Q3 2025, a 10% year-over-year increase | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YOY % change | | :----------------------- | :--------------- | :--------------- | :----------- | | Cash and Cash Equivalents | $54,706 | $47,918 | 14 | | Card Member Receivables, Net of Allowances | 60,823 | 58,886 | 3 | | Card Member Loans, Net of Allowances | 138,946 | 128,960 | 8 | | Card Member Loans Held for Sale | 2,424 | - | - | | Investment Securities | 1,374 | 1,268 | 8 | | Other | 39,277 | 33,947 | 16 | | **Total Assets** | **$297,550** | **$270,979** | **10** | [Liabilities and Shareholders' Equity](index=2&type=section&id=Liabilities%20and%20Shareholders%27%20Equity) Total liabilities were $265,133 million at the end of Q3 2025, a 10% year-over-year increase | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YOY % change | | :------------------- | :--------------- | :--------------- | :----------- | | Customer Deposits | $149,883 | $135,438 | 11 | | Short-Term Borrowings | 1,446 | 1,457 | (1) | | Long-Term Debt | 57,787 | 53,546 | 8 | | Other | 56,017 | 50,831 | 10 | | **Total Liabilities** | **265,133** | **241,272** | **10** | | **Shareholders' Equity** | **32,417** | **29,707** | **9** | | **Total Liabilities and Shareholders' Equity** | **$297,550** | **$270,979** | **10** | [Related Statistical Information](index=2&type=section&id=Related%20Statistical%20Information) Net interest yield was 8.2% in Q3 2025, with return on average equity at 35.9% | Metric | Q3'25 | Q3'24 | YOY % change | YTD'25 | YTD'24 | | :----------------------- | :---- | :---- | :----------- | :------- | :------- | | Net Interest Yield (C) | 8.2 % | 8.0 % | | 8.1 % | 7.9 % | | Return on Average Equity (D) | 35.9 % | 33.9 % | | 35.4 % | 36.6 % | | Return on Average Common Equity (D) | 37.3 % | 35.3 % | | | | | Book Value Per Share (USD) | $44.76 | $39.92 | 12 | | | Consolidated Capital This section details the company's capital structure, including shares outstanding and risk-based capital ratios [Shares Outstanding](index=3&type=section&id=Shares%20Outstanding) Shares outstanding at the end of Q3 2025 were 689 million, a decrease primarily due to common stock repurchases | Metric | Q3'25 (million shares) | Q3'24 (million shares) | | :--------------------------- | :------------- | :------------- | | Beginning of Period | 696 | 712 | | Common Stock Repurchases | (7) | (8) | | Employee Benefit Plans and Other Net Impact | — | — | | **End of Period Shares Outstanding** | **689** | **704** | [Risk-Based Capital Ratios - Basel III](index=3&type=section&id=Risk-Based%20Capital%20Ratios%20-%20Basel%20III) The company's Common Equity Tier 1 capital ratio was 10.5% in Q3 2025, with a Tier 1 capital ratio of 11.1% and a Total capital ratio of 13.1% | Metric | Q3'25 | Q3'24 | | :----------------------------------- | :---- | :---- | | Common Equity Tier 1 Capital / Risk-Weighted Assets (RWA) | 10.5 % | 10.7 % | | Tier 1 Capital | 11.1 % | 11.4 % | | Total Capital | 13.1 % | 13.4 % | | Tier 1 Leverage Ratio | 9.5 % | 9.8 % | | Supplementary Leverage Ratio (SLR) (E) | 8.1 % | | | Common Equity Tier 1 Capital (million USD) | $26,222 | $24,648 | | Risk-Weighted Assets (RWA) (million USD) | $250,642 | $229,855 | - The company became a Category III institution in Q3 2024, thus subject to minimum Supplementary Leverage Ratio requirements starting Q4 2024[21](index=21&type=chunk) Selected Card Related Statistical Information This section provides key metrics on card network activity, billed business, and card-in-force data [Network Volumes and Billed Business](index=4&type=section&id=Network%20Volumes%20and%20Billed%20Business) Network volumes reached $479.2 billion in Q3 2025, a 9% year-over-year increase, with billed business at $421.0 billion, also up 9% | Metric | Q3'25 (billion USD) | Q3'24 (billion USD) | YOY % change | YTD'25 (billion USD) | YTD'24 (billion USD) | YOY % change | | :------------------- | :--------------- | :--------------- | :----------- | :--------------- | :--------------- | :----------- | | Network Volumes (G) | $479.2 | $441.0 | 9 | $1,390.8 | $1,300.8 | 7 | | Billed Business (H) | $421.0 | $387.3 | 9 | $1,224.7 | $1,142.5 | 7 | | Billed Business Category | Q3'25 YOY % change | YTD'25 YOY % change | | :--------------------- | :----------------- | :------------------ | | U.S. Consumer Services | 9 | 8 | | Commercial Services | 4 | 3 | | International Card Services | 14 | 13 | | Goods and Services Spend | 9 | 7 | | Travel and Entertainment Spend | 8 | 6 | [Cards-in-Force and Spending](index=4&type=section&id=Cards-in-Force%20and%20Spending) Total cards-in-force reached 151.2 million at the end of Q3 2025, a 4% year-over-year increase | Metric | Q3'25 (million) | Q3'24 (million) | YOY % change | YTD'25 (million) | YTD'24 (million) | YOY % change | | :--------------------------- | :----------- | :----------- | :----------- | :----------- | :----------- | :----------- | | Total Cards-in-Force (I) | 151.2 | 145.5 | 4 | 151.2 | 145.5 | 4 | | Proprietary Cards-in-Force | 86.0 | 82.9 | 4 | 86.0 | 82.9 | 4 | | Proprietary Basic Cards-in-Force | 66.2 | 63.7 | 4 | 66.2 | 63.7 | 4 | | Average Spend Per Proprietary Basic Card Member (USD) | $6,387 | $6,110 | 5 | $18,751 | $18,224 | 3 | | Average Fee Per Card (USD) (J) | $119 | $105 | 13 | $116 | $101 | 15 | | Proprietary New Card Acquisitions (million) (K) | 3.2 | 3.3 | | 9.6 | 10.0 | | Selected Credit Related Statistical Information This section provides detailed credit performance metrics for card member loans, receivables, and other loan categories [Card Member Loans and Receivables](index=6&type=section&id=Card%20Member%20Loans%20and%20Receivables) Total card member loans increased by 8% year-over-year to $144,814 million in Q3 2025 | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YOY % change | YTD'25 (million USD) | YTD'24 (million USD) | YOY % change | | :----------------------------------- | :--------------- | :--------------- | :----------- | :--------------- | :--------------- | :----------- | | **Card Member Loans** | | | | | | | | Total Card Member Loans | $144,814 | $134,548 | 8 | $144,814 | $134,548 | 8 | | Provisions for Credit Losses (End of Period) | $5,868 | $5,588 | 5 | $5,868 | $5,588 | 5 | | Provisions as a % of Card Member Loans | 4.1 % | 4.2 % | | 4.1 % | 4.2 % | | | Net Write-off Rate (Principal, Interest and Fees) | 2.6 % | 2.6 % | | 2.7 % | 2.7 % | | | 30+ Days Past Due as a % of Total | 1.4 % | 1.4 % | | 1.4 % | 1.4 % | | | **Card Member Receivables** | | | | | | | | Total Card Member Receivables | $61,023 | $59,042 | 3 | $61,023 | $59,042 | 3 | | Provisions for Credit Losses (End of Period) | $200 | $156 | 28 | $200 | $156 | 28 | | Provisions as a % of Card Member Receivables | 0.3 % | 0.3 % | | 0.3 % | 0.3 % | | | Net Write-off Rate (Principal and Fees) | 1.2 % | 1.3 % | | 1.2 % | 1.4 % | | | 30+ Days Past Due as a % of Total | 1.0 % | 0.9 % | | 1.0 % | 0.9 % | | [Other Loans and Receivables](index=7&type=section&id=Other%20Loans%20and%20Receivables) Total other loans increased by 24% year-over-year to $10,518 million in Q3 2025, with provisions for credit losses up 86% | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YOY % change | YTD'25 (million USD) | YTD'24 (million USD) | YOY % change | | :----------------------- | :--------------- | :--------------- | :----------- | :--------------- | :--------------- | :----------- | | **Other Loans** | | | | | | | | Total Other Loans | $10,518 | $8,460 | 24 | $10,518 | $8,460 | 24 | | Provisions for Credit Losses (End of Period) | $287 | $154 | 86 | $287 | $154 | 86 | | Provisions as a % of Other Loans | 2.7 % | 1.8 % | | 2.7 % | 1.8 % | | | **Other Receivables** | | | | | | | | Total Other Receivables | $4,019 | $3,800 | 6 | $4,019 | $3,800 | 6 | | Provisions for Credit Losses (End of Period) | $20 | $49 | (59) | $20 | $49 | (59) | | Provisions as a % of Other Receivables | 0.5 % | 1.3 % | | 0.5 % | 1.3 % | | Selected Income Statement Information by Segment This section provides a breakdown of income statement performance across the company's key business segments [U.S. Consumer Services (USCS)](index=8&type=section&id=U.S.%20Consumer%20Services%20%28USCS%29) The U.S. Consumer Services segment reported $1,852 million in pre-tax income for Q3 2025, a 12% year-over-year increase | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YOY % change | YTD'25 (million USD) | YTD'24 (million USD) | YOY % change | | :----------------------------------- | :--------------- | :--------------- | :----------- | :--------------- | :--------------- | :----------- | | Total Revenues Net of Interest Expense | $8,856 | $7,944 | 11 | $25,658 | $23,175 | 11 | | Total Provisions for Credit Losses | 734 | 812 | (10) | 2,194 | 2,245 | (2) | | Total Expenses | 6,270 | 5,473 | 15 | 18,204 | 16,098 | 13 | | **Pre-Tax Segment Income** | **$1,852** | **$1,659** | **12** | **$5,260** | **$4,832** | **9** | | Billed Business (billion USD) | $177.5 | $162.3 | 9 | $518.3 | $480.8 | 8 | | Proprietary Cards-in-Force (million) | 47.8 | 45.7 | 5 | 47.8 | 45.7 | 5 | | Total Card Member Loans (million USD) | $94,142 | $86,752 | 9 | $94,142 | $86,752 | 9 | | Card Member Loans Net Write-off Rate (Principal, Interest and Fees) | 2.4 % | 2.6 % | | 2.7 % | 2.8 % | | | Card Member Receivables Net Write-off Rate (Principal and Fees) | 0.9 % | 1.2 % | | 0.8 % | 1.3 % | | [Commercial Services (CS)](index=8&type=section&id=Commercial%20Services%20%28CS%29) The Commercial Services segment reported $1,090 million in pre-tax income for Q3 2025, a 20% year-over-year increase | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YOY % change | YTD'25 (million USD) | YTD'24 (million USD) | YOY % change | | :----------------------------------- | :--------------- | :--------------- | :----------- | :--------------- | :--------------- | :----------- | | Total Revenues Net of Interest Expense | $4,281 | $3,998 | 7 | $12,528 | $11,737 | 7 | | Total Provisions for Credit Losses | 332 | 374 | (11) | 1,021 | 1,078 | (5) | | Total Expenses | 2,859 | 2,716 | 5 | 8,676 | 7,968 | 9 | | **Pre-Tax Segment Income** | **$1,090** | **$908** | **20** | **$2,831** | **$2,691** | **5** | | Billed Business (billion USD) | $136.3 | $131.0 | 4 | $401.0 | $390.4 | 3 | | Proprietary Cards-in-Force (million) | 15.4 | 15.5 | (1) | 15.4 | 15.5 | (1) | | Total Card Member Loans (million USD) | $30,691 | $29,869 | 3 | $30,691 | $29,869 | 3 | | Card Member Loans Net Write-off Rate (Principal, Interest and Fees) | 3.1 % | 2.6 % | | 3.0 % | 2.7 % | | | Card Member Receivables Net Write-off Rate (Principal and Fees) | 1.1 % | 1.3 % | | 1.2 % | 1.4 % | | [International Card Services (ICS)](index=8&type=section&id=International%20Card%20Services%20%28ICS%29) The International Card Services segment reported $441 million in pre-tax income for Q3 2025, a slight 3% year-over-year decrease | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YOY % change | YTD'25 (million USD) | YTD'24 (million USD) | YOY % change | | :----------------------------------- | :--------------- | :--------------- | :----------- | :--------------- | :--------------- | :----------- | | Total Revenues Net of Interest Expense | $3,336 | $2,936 | 14 | $9,504 | $8,471 | 12 | | Total Provisions for Credit Losses | 218 | 158 | 38 | 620 | 532 | 17 | | Total Expenses | 2,677 | 2,323 | 15 | 7,597 | 6,942 | 9 | | **Pre-Tax Segment Income** | **$441** | **$455** | **(3)** | **$1,287** | **$997** | **29** | | Billed Business (billion USD) | $106.9 | $93.6 | 14 | $303.6 | $269.2 | 13 | | Proprietary Cards-in-Force (million) | 22.8 | 21.7 | 5 | 22.8 | 21.7 | 5 | | Total Card Member Loans (million USD) | $19,981 | $17,927 | 11 | $19,981 | $17,927 | 11 | | Card Member Loans Net Write-off Rate (Principal, Interest and Fees) | 2.5 % | 2.4 % | | 2.4 % | 2.5 % | | | Card Member Receivables Net Write-off Rate (Principal and Fees) | 1.5 % | 1.3 % | | 1.4 % | 1.5 % | | [Global Merchant and Network Services (GMNS)](index=8&type=section&id=Global%20Merchant%20and%20Network%20Services%20%28GMNS%29) The Global Merchant and Network Services segment reported $1,040 million in pre-tax income for Q3 2025, a 5% year-over-year increase | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YOY % change | YTD'25 (million USD) | YTD'24 (million USD) | YOY % change | | :----------------------------------- | :--------------- | :--------------- | :----------- | :--------------- | :--------------- | :----------- | | Total Revenues Net of Interest Expense | $1,972 | $1,847 | 7 | $5,720 | $5,590 | 2 | | Total Provisions for Credit Losses | 5 | 10 | (50) | 8 | 36 | (78) | | Total Expenses | 927 | 846 | 10 | 2,628 | 2,009 | 31 | | **Pre-Tax Segment Income** | **$1,040** | **$991** | **5** | **$3,084** | **$3,545** | **(13)** | | Total Network Volumes (billion USD) | $479.2 | $441.0 | 9 | $1,390.8 | $1,300.8 | 7 | [Corporate and Other](index=8&type=section&id=Corporate%20and%20Other) The Corporate and Other segment reported a pre-tax loss of $598 million in Q3 2025, an improvement from the $809 million loss in the prior year | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YOY % change | | :----------------------- | :--------------- | :--------------- | :----------- | | Total Revenues Net of Interest Expense | $(19)$ | $(89)$ | 79 | | Total Provisions for Credit Losses | $(2)$ | $2$ | | | Total Expenses | 581 | 718 | (19) | | **Pre-Tax Income (Loss)** | **$(598)$** | **$(809)$** | **26** | Appendix I: Components of Return on Average Equity and Return on Average Common Equity This appendix provides the detailed components and calculations for the company's Return on Average Equity and Return on Average Common Equity [ROE and ROCE Components](index=13&type=section&id=ROE%20and%20ROCE%20Components) Annualized net income for Q3 2025 was $11,608 million, resulting in a 35.9% return on average equity | Metric | Q3'25 (million USD) | Q3'24 (million USD) | YTD'25 (million USD) | YTD'24 (million USD) | | :----------------------------------- | :--------------- | :--------------- | :--------------- | :--------------- | | Annualized Net Income | $11,608 | $10,028 | $11,162 | $10,612 | | Average Shareholders' Equity | $32,364 | $29,623 | $31,549 | $29,017 | | **Return on Average Equity (D)** | **35.9 %** | **33.9 %** | **35.4 %** | **36.6 %** | | Annualized Net Income Attributable to Common Shareholders | $11,468 | $9,895 | | | | Average Common Shareholders' Equity | $30,780 | $28,039 | | | | **Return on Average Common Equity (D)** | **37.3 %** | **35.3 %** | | | Appendix II: Footnote References This appendix provides detailed definitions and calculation methodologies for various financial metrics and accounting principles used in the report [Footnote References](index=14&type=section&id=Footnote%20References) This section details GAAP accounting principles, reclassifications, rounding notes, and definitions for key financial metrics - Financial statements adhere to U.S. Generally Accepted Accounting Principles (GAAP), with prior period amounts reclassified for current presentation[20](index=20&type=chunk) - Detailed definitions and calculation methodologies are provided for net income attributable to common shareholders, other assets/liabilities, net interest yield, return on average equity, supplementary leverage ratio, network volumes, billed business, cards-in-force, average fee per card, new card acquisitions, foreign exchange adjustment information, net write-off rates, and days past due[21](index=21&type=chunk)

American Express Company (NYSE:AXP) will release earnings results for the third quarter, before the opening bell on Friday, Oct. 17.Analysts expect the New York-based company to report quarterly earnings at $4.00 per share, up from $3.49 per share in the year-ago period. American Express projects quarterly revenue of $18.05 billion, compared to $16.64 billion a year earlier, according to data from Benzinga Pro.The company has beaten analyst estimates for revenue in three straight quarters and in six of the ...

Core Insights - American Express Company is set to release its third-quarter earnings results on October 17, with analysts expecting earnings of $4.00 per share, an increase from $3.49 per share in the same period last year [1] - The projected quarterly revenue is $18.05 billion, up from $16.64 billion a year earlier [1] Financial Performance - The company has exceeded analyst revenue estimates for three consecutive quarters and six out of the last ten quarters [2] - Shares of American Express declined by 2.3%, closing at $323.12 on Thursday [2] Analyst Ratings - UBS analyst Eriks Najarian maintained a Neutral rating and raised the price target from $330 to $340 [4] - JP Morgan analyst Richard Shane also maintained a Neutral rating, increasing the price target from $343 to $355 [4] - Evercore ISI Group analyst John Pancari maintained an In-Line rating and raised the price target from $330 to $365 [4] - Morgan Stanley analyst Betsy Graseck maintained an Equal-Weight rating, increasing the price target from $311 to $362 [4] - Wells Fargo analyst Donald Fandetti maintained an Overweight rating and raised the price target from $350 to $375 [4]

Market Sentiment - The CNN Money Fear and Greed index increased, indicating a rise in overall fear, moving to the "Extreme Fear" zone with a current reading of 23.4, down from 30.9 [1][4][5] Stock Market Performance - U.S. stocks closed lower, with the Dow Jones index dropping approximately 301 points to 45,952.24, the S&P 500 falling 0.63% to 6,629.07, and the Nasdaq Composite decreasing 0.47% to 22,562.54 [3] - Most sectors on the S&P 500 ended negatively, particularly financial, utilities, and energy stocks, while information technology stocks performed better, closing higher [2] Economic Indicators - The Philadelphia Fed Manufacturing Index fell to a six-month low of -12.8 in October, down from 23.2 in the previous month, missing market expectations of 10 [2] Company Earnings - Charles Schwab Corporation reported better-than-expected earnings for the third quarter [1] - Investors are anticipating earnings results from Slb NV, American Express Co., and Truist Financial Corp. [3]