American Express Sees Strong Spending, Raises Revenue Outlook

American Express (NYSE: AXP) has reported strong spending and revenue growth in the first half of 2026, with operating trends remaining steady through the period. The company's chief financial officer, Christophe Le Caillec, stated that foreign-exchange-adjusted revenue increased by 10% during this time, while earnings per share rose in the mid-teens.

The company has maintained a growth rate of 8-9% in billings over several quarters and saw stronger results in the second quarter. Card fees have risen by 16% year-to-date, with net interest income growing at a double-digit pace. The revenue-growth outlook for the second quarter was raised to 10%, not including an expected gain from the sale of American Express's Global Business Travel shares or any planned use of the proceeds.

American Express is directing excess profits towards investments in customer acquisition and technology, rather than allowing it all to flow into earnings or share repurchases. The company has prioritized acquiring new cardmembers through marketing efforts and developing new capabilities, including a recently released Business Savings account and expense-management solutions for mid-sized customers.