American Express Company today reported financial results for the first quarter ending March 31, 2026, surpassing analyst estimates with significant growth in both revenue and net income. The company reported quarterly revenue of $17.85 billion, a 12% increase from $15.94 billion in the same period last year. Net income for the quarter rose to $2.82 billion, or $3.88 per diluted share, compared to $2.44 billion, or $3.33 per share, in the first quarter of 2025.
Chief Executive Officer Stephen J. Squeri attributed the performance to sustained momentum in consumer spending, particularly among Millennial and Gen Z demographics, and continued demand for premium fee-based products. Cardmember spending reached a record $452 billion for the quarter, representing a 10% increase on a currency-indexed basis. The company noted that its Platinum and Gold card products accounted for over 70% of new accounts acquired during the period. Credit quality remained a focal point, with the provision for credit losses totaling $1.4 billion, which the company stated reflects a stable macroeconomic environment and disciplined risk management.
Alongside its earnings release, American Express announced the acquisition of Hypercard, a fintech startup specializing in AI-driven expense management and corporate card solutions. While the specific financial terms of the deal were not disclosed, American Express confirmed the transaction is expected to close by the end of the second quarter of 2026. Hypercard’s platform utilizes machine learning to automate expense reporting, receipt matching, and real-time policy enforcement for small and medium-sized enterprises (SMEs).
The acquisition is part of a broader strategy to integrate advanced automation into Amex’s Global Commercial Services segment. Anna Marrs, President of Global Commercial Services, stated that Hypercard’s technology will be integrated into the American Express Business Blueprint, providing commercial clients with enhanced visibility into corporate spending. The move follows a series of digital investments aimed at defending the company’s market share against emerging fintech competitors in the business-to-business payment space.
For the full year 2026, American Express reaffirmed its previous guidance, projecting revenue growth of 9% to 11% and earnings per share between $14.50 and $15.00. Chief Financial Officer Christophe Le Caillec noted that the company’s expense base grew by 6% during the quarter, primarily due to increased marketing investments and compensation costs. The company also returned $1.2 billion to shareholders through dividends and share repurchases during the first three months of the year.