American Express (AXP) stock climbed 2% in pre-market hours after the company reported stronger-than-expected Q3 results and raised its full-year guidance. The company reported third-quarter earnings grew 19% year-over-year to $4.14 per share, beating analysts’ estimates of $3.99. Meanwhile, revenue surged 11% to record $18.4 billion, above the expected $18.05 billion.
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Looking ahead, American Express raised its full-year 2025 guidance, projecting EPS between $15.20 and $15.0, compared to the analyst consensus of $15.34. Additionally, it expects revenue growth of 9%-10%.
Platinum Card Refresh Off to a Flying Start
American Express’s Q3 revenue growth was largely fueled by an 8% increase in Card Member spending on a currency-adjusted basis, while its credit metrics remained top-tier. The results underscore the strength of Amex’s premium customer base, boosting investor confidence and signaling solid growth in its card portfolio.
In September, American Express unveiled its long-awaited Platinum credit card refresh. In its results, the company highlighted that early demand has exceeded expectations, with U.S. Platinum account sign-ups doubling compared to pre-refresh levels.
Praising the results, Stephen J. Squeri, Chairman and Chief Executive Officer of Amex, said, “Looking ahead, we are confident in our growth prospects as we continue to execute our proven product refresh strategy and enhance our powerful Membership Model to deliver value for our Card Members, merchant partners, and shareholders.”
Is American Express a Good Stock to Buy?
On TipRanks, AXP stock has a Hold consensus rating based on eight Buys, 11 Holds, and three Sells assigned over the last three months. The average American Express stock price target of $341.88 implies 5.81% upside potential from current levels.
Year-to-date, AXP stock has surged nearly 9%.
These ratings and price targets will likely change as analysts update their coverage following today’s earnings report.
