American Express Q4 EPS Rises 16%, Revenue Climbs 10% to $19B
American Express reported Q4 2025 EPS of $3.53, up 16% year over year but missing consensus by 0.3%. Total revenue rose 10% to $19 billion, driven by higher card member spending, increased revolving loan balances and strong card fee growth, partly offset by elevated customer engagement and operating costs.
1. Earnings Performance
American Express delivered Q4 2025 EPS of $3.53, marking a 16% increase from last year but falling short of expectations by 0.3%. This result reflected strong loan interest income but was weighed down by higher expense levels.
2. Revenue Drivers
Total revenues for the quarter reached $19 billion, representing 10% year-over-year growth. Growth was supported by robust card member spending, increased revolving loan balances and elevated card fee income.
3. Cost and Engagement Pressures
Operating costs and customer engagement initiatives rose during the quarter, exerting pressure on margins. Elevated marketing expenses and higher transaction-related costs offset some top-line gains.