American Express ($AXP) Soars: Q3 Profits Rocket 16% as Affluent Cardholders Fuel Spending Frenzy - Shares Break $323 Barrier

American Express just flexed its premium muscle—and Wall Street is taking notes. The financial giant's Q3 earnings smashed expectations, proving once again that when the wealthy spend, everyone wins.

The High-Roller Effect

That 16% profit surge didn't happen by accident. While Main Street worries about inflation, AmEx's affluent cardholders are swiping like there's no tomorrow. Luxury travel, fine dining, exclusive retail—the spending patterns that separate premium plastic from ordinary credit cards.

$323 and Climbing

Shares trading above $323 tell the real story. In a market obsessed with tech disruptors, this 174-year-old institution just reminded everyone that catering to the top 1% remains one of finance's most reliable business models. Because nothing beats getting rich off other people's luxury habits—the ultimate Wall Street irony.

TLDR

• Q3 2025 profit surged 16% YoY to $2.9 billion, or $4.14 per share, beating estimates.
• Revenue climbed 11.8% to $13.94 billion, exceeding Wall Street’s forecast.
• Strong spending by high-net-worth customers boosted Platinum Card demand.
• RBC Capital raised its price target to $380, citing solid earnings growth.
• Shares trade at $323.12, up 1.45% pre-market as investors cheer results.

American Express Company (NYSE: AXP), trading at $323.12 at market close on October 16, 2025, released its third-quarter financial results on Friday, October 17, 2025. The stock gained 1.45% pre-market to $327.85, valuing the company at $224.85 billion.

American Express Company (AXP)

The New York-based payments giant reported a 16% year-over-year profit increase, earning $2.9 billion compared to $2.51 billion in Q3 2024. Earnings per share came in at $4.14, surpassing analysts’ expectations of $4.00. Revenue ROSE 11.8% to $13.94 billion, topping estimates of $13.45 billion.

American Express, $AXP, Q3-25. Results:

📊 EPS: $4.14 🟢
💰 Revenue: $18.43B 🟢
📈 Net Income: $2.90B
🔎 Raised FY25 guidance and saw strong momentum from refreshed Platinum Cards and new product launches. pic.twitter.com/SKXQAalv3k

— EarningsTime (@Earnings_Time) October 17, 2025

American Express attributed the growth to higher card spending, especially among its wealthiest members, and continued customer engagement across premium products.

Wealthy Card Members Drive Growth

CEO and Chairman Steve Squeri highlighted that strong demand for the revamped Platinum Card helped fuel Q3 momentum. The company refreshed its flagship card last month, raising the annual fee to $895 while enhancing perks and rewards.

Despite the fee hike, demand exceeded expectations — with 500,000 requests for the new mirrored-finish card received within three weeks. “The initial customer engagement exceeded our expectations,” said Squeri. “New U.S. Platinum account acquisitions doubled compared to pre-refresh levels.”

Competitors like JPMorgan Chase and Citigroup also refreshed their premium offerings this year, intensifying competition in the high-net-worth segment. Yet, AmEx maintained strong loyalty among affluent users, supporting its revenue and margin growth.

Financial Strength and Market Position

American Express reported a pre-tax profit of $3.83 billion, representing a 27.4% margin and 19.4% growth year over year. Total card volume reached $479.2 billion, beating expectations of $472 billion, reflecting an 8.7% annual increase.

According to InvestingPro, the company holds a “GOOD” financial health rating and has maintained 55 consecutive years of dividend payments. Analyst sentiment remains optimistic, with seven analysts raising earnings forecasts and RBC Capital lifting its price target to $380.

Other Key Developments

American Express introduced Amex Ads, a new digital advertising platform targeting its 34 million U.S. Consumer Card Members. The service launches on AmexTravel.com before expanding across other digital platforms.

In regulatory news, the Reserve Bank of India fined the company 3.18 million rupees for non-compliance with card issuance norms. American Express also announced the planned retirement of Vice Chairman Douglas E. Buckminster in March 2026.

Performance Overview

As of October 16, 2025, AXP shares have gained 10.04% year-to-date, trailing the S&P 500’s 12.71%. Over five years, however, AXP delivered a 227.62% return, more than doubling the market’s 90.28% gain.

With strong card spending, consistent dividend growth, and expansion into digital advertising, American Express appears well-positioned to sustain earnings momentum into 2026.