AXP American Express (AXP) Q1 FY25 earnings call
American Express delivered a strong Q1 FY25, driven by robust premium customer spending and continued card acquisition, particularly among younger demographics. The company maintained its full-year revenue and EPS guidance, reflecting confidence in its resilient business model despite increased macroeconomic uncertainty and a higher unemployment rate assumption. Management emphasized long-term investment and expense flexibility to navigate varying economic environments.
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AXP operating KPIs by quarter
| KPI | This call Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| New cards acquired | 3.4MWe also continue to grow our customer base, adding 3.4 million new cards in the quarter.Source: earnings call transcript | 3.1MWe acquired 3.1 million new cards in Q2 within the range of recent quarters.Source: earnings call transcript | 3.2MWe acquired 3.2 million new cards in the quarter.Source: earnings call transcript | 3.1MLooking at New Card acquisition, we acquired 3.1 million new COGS in the quarter with continued momentum in acquiring younger customers and attracting new customers onto our fee-paying products.Source: earnings call transcript | 3MWe acquired 3 million new cards in the quarter with continued momentum in acquiring younger customers and attracting new customers onto our fee-paying products.Source: earnings call transcript | — | -3.2% |
| Common equity tier 1 ratio (CET1) | 10.7%Our CET1 ratio was 10.7% within our 10% to 11% target range.Source: earnings call transcript | 10.6%Our CET1 ratio was 10.6%, within our 10% to 11% target range.Source: earnings call transcript | — | — | — | 10.9%And we ended the quarter with a CET1 ratio of 10.9%, reflecting the gain from the sale of GBTG that happened at the end of the quarter.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.