American Express Reports Higher Credit Card Spending, Boosting Profits and Outlook
On October 17, 2025, American Express Co. released its third-quarter earnings, which surpassed expectations. The financial services giant reported an increase in credit card spending, which has positively impacted its profitability and market outlook.
Increased Spending by Card Members
American Express noted a significant rise in spending among its card members. This boost was particularly evident in the demand for premium services. As a result, the company has raised its full-year outlook, indicating strong future performance.
Enhanced Demand for the Platinum Card
Concerns arose regarding the increase in the annual fee for the revamped Platinum card. However, Chief Executive Stephen Squeri reported that demand for the card exceeded company expectations.
- New U.S. Platinum account acquisitions doubled compared to pre-refresh levels.
This surge in acquisitions illustrates the effectiveness of the promotional strategies implemented by American Express, which cater to the premium market segment. Overall, the company’s proactive adjustments and offerings are proving beneficial amidst evolving consumer preferences.
