AXP American Express (AXP) Q3 FY26 earnings call
American Express delivered a robust Q3 FY26, driven by strong customer spending and accelerating net card fees, leading to a reaffirmation of revenue guidance and a raise in adjusted EPS outlook. The company is strategically investing in AI to enhance customer experience and operational efficiency, while navigating competitive pressures and addressing legal matters and restructuring efforts to streamline its organization for long-term growth.
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AXP operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | This call 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.