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American Express (AXP) extended its streak of strong performance, topping EPS estimates for the seventh consecutive quarter as consumer spending remained robust. EPS rose 19% yr/yr to $4.14, while Total Billed Business climbed 8% yr/yr to $388.1 bln, supported by healthy demand from younger, affluent cardmembers.

• The company raised the low end of its FY25 EPS guidance to $15.20-$15.50 from $15.00-$15.50 and now expects revenue growth of 9-10%, versus its prior 8-10% range.
• Demand for its refreshed Platinum Card, which carries an $895 annual fee, exceeded expectations, with new U.S. Platinum account acquisitions doubling pre-refresh levels.
• Total proprietary new cards added were 3.2 mln, with millennials and Gen Z comprising 64% of global consumer new accounts.
• Credit quality remained stellar, as the Q3 net write-off rate held steady at 1.9%, 30+ days past due was just 1.3%, and provisions for credit losses declined to $1.3 bln from $1.4 bln a year ago.

Briefing.com Analyst Insight:

AXP delivered another strong quarter, demonstrating the durability of its premium customer base and disciplined credit management. The raised FY25 outlook is a constructive shift from last quarter’s cautious reaffirmation and signals growing confidence in sustained spending trends. While the Platinum Card’s successful relaunch underscores AXP’s pricing power and brand appeal, the company remains tied to the broader trajectory of consumer confidence and discretionary spending. Given the healthy credit metrics and upside guidance, the risk-reward profile still looks favorable, though the stock’s valuation may already reflect much of this optimism. Overall, the company’s ability to expand margins while maintaining industry-leading credit quality reinforces its positioning as one of the most resilient names in financial services.