American Express reported FY2025 revenue of $41.30 billion and Q1 2026 revenue of $10.52 billion, with the official record tying the thesis to premium-card spending, fee income, credit quality, funding, capital returns and cash conversion.
American Express: the premium-card engine has to keep credit risk from eating spend growth
NYSEAXPCoverage BootstrapAmerican Express Company
Thesis summary
American Express reported FY2025 revenue of $41.30 billion and Q1 2026 revenue of $10.52 billion, with the official record tying the thesis to premium-card spending, fee income, credit quality, funding, capital returns and cash conversion.
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