American Express raises 2026 profit forecast on strong spending

American Express raised its 2026 profit forecast on Friday, citing strong third-quarter results driven by affluent customers' spending on travel, dining, and shopping. The credit card giant's strategy of targeting consumers with high credit scores has helped it weather economic slowdowns. Billed business, representing total spending on AmEx cards, increased 8% to $454 billion, while revenue grew 9% to $20.1 billion. CEO Stephen Squeri noted continued business momentum, strong new customer acquisitions, and excellent credit quality. The company now anticipates 2026 earnings per share between $18.30 and $18.60, an increase from its previous projection of $17.30 to $17.90. AmEx's adjusted profit for the quarter ended September 30 was $4.68 per share, up from $4.14 a year prior. The company has also invested in attracting younger consumers, including Gen Z and millennials, to expand its global market share.