American Express lifts 2026 profit outlook as affluent customers keep spending
American Express raised its 2026 profit forecast after strong third-quarter results, driven by spending from affluent cardholders, according to Reuters.
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what happened
American Express raised its 2026 profit forecast on Friday after posting strong third-quarter results. Its high-income cardholders kept using their cards for travel, dining and shopping. Billed business, a measure of total spending on AmEx-issued cards, climbed 8% to $454 billion, and revenue rose 9% to $20.1 billion.
The company now expects adjusted earnings of $18.30 to $18.60 per share for the year, up from its earlier range of $17.30 to $17.90. Adjusted profit for the quarter ended September 30 was $4.68 per share, against $4.14 a year earlier. Provisions for credit losses were $1 billion, down from $1.3 billion a year ago.
why it matters
AmEx serves mainly premium customers, so its results are not a full picture of consumer health. Still, they offer an early read on discretionary spending among the affluent, which investors watch closely. Other large US banks also reported steady spending and stable credit metrics across income brackets earlier this month.
market impact
US banks and consumer sector: strong spending by premium customers supports profit expectations.
tags
instruments
sources
- American Express raises 2026 profit forecast as affluent customers keep spending — Reuters, 23 October 2026 at 11:00 UTC
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