The Quarter in Brief
American Express reported its third quarter of 2026, the three months ended September 30, before the market opened on October 23. Revenue net of interest expense was $20.06 billion, up 9% from $18.43 billion a year earlier. Net income was $3.71 billion, up 28%, and earnings per share were $5.42, up 31% from $4.14. Those reported figures include a $982 million gain on the sale of the company's stake in Global Business Travel Group (GBTG), less a $336 million restructuring charge paid for out of it. Leaving both out, adjusted earnings were $4.68 a share, up 13%.
Against expectations, the picture was mixed: Zacks Investment Research's consensus was $4.47 a share on the adjusted basis, which the company beat by about 5%, and revenue fell about 0.3% short of Zacks' figure of roughly $20.13 billion. What made the quarter different was the size of the one-off items. Besides the gain and the restructuring, which management says will cut about 5% of jobs worldwide, the company added to its legal reserves after agreeing a $350 million penalty with a bank regulator, and it booked a lower tax rate from settling old tax items.