American Express, the 175-year-old card-and-travel company headquartered in Lower Manhattan, reported a strong start to 2026, posting first-quarter revenue of $18.9 billion — up 11% — and its fastest Card Member spending growth in three years. The results, released in April, beat Wall Street’s expectations on both the top and bottom lines, though the stock dipped on the day as investors weighed an already-rich valuation.

The quarter

Revenue net of interest expense rose 11% to $18.9 billion, ahead of the roughly $18.6 billion analysts had forecast, according to American Express’s earnings materials filed with the Securities and Exchange Commission. Diluted earnings per share came in at $4.28, up 18% year-over-year and well above the consensus near $3.99. Net income reached $3.0 billion, up from $2.6 billion a year earlier.

The clearest sign of momentum was spending. Card Member spending grew 10% — the company’s highest quarterly growth in three years — and total network volumes reached $486.3 billion, up 11%. For a lender whose model leans on affluent, high-spending customers, accelerating billed business is the metric that matters most.

Why it matters for New York

American Express anchors its global operations at 200 Vesey Street in Brookfield Place, on the Lower Manhattan waterfront, making it one of the city’s largest financial-services employers outside the traditional Wall Street banks. Its results offer a window into consumer health at the premium end of the market — corporate travel, dining, luxury retail — categories that map closely onto New York’s own economy.

The spending strength also tracks with other signals from the city’s consumer-facing sectors in early 2026, from record Broadway grosses to resilient tourism, suggesting that higher-income households were still spending on experiences even amid broader economic uncertainty.

Guidance held

American Express reaffirmed its full-year 2026 outlook, guiding to revenue growth of 9% to 10% and earnings per share of $17.30 to $17.90. Holding guidance after a beat is a vote of confidence, but with the shares already trading at elevated multiples, the market’s muted reaction reflected how much good news was already priced in.

The read-through

Amex’s quarter, arriving alongside the big-bank reports from JPMorgan and peers, reinforced a theme running through New York’s financial-services cluster in early 2026: spending and credit remained healthy, profitability stayed high, and the premium consumer — the core of the Amex franchise — kept opening its wallet. For a company built on charging cardholders annual fees in exchange for travel and lifestyle perks, the 10% spending jump was the quarter’s headline.

Verification

Frequently Asked Questions

How much did American Express earn in Q1 2026?
American Express reported revenue net of interest expense of $18.9 billion for the first quarter of 2026, up 11% year-over-year, and net income of $3.0 billion. Diluted earnings per share were $4.28, up 18% and ahead of the roughly $3.99 analysts expected.
Where is American Express headquartered?
American Express is headquartered at 200 Vesey Street, in Brookfield Place in Lower Manhattan. The 175-year-old company is one of New York City's largest financial-services employers.
How fast is Card Member spending growing?
Card Member spending rose 10% in the first quarter of 2026, the highest quarterly growth in three years, and network volumes reached $486.3 billion, up 11%.
Did American Express change its outlook?
American Express reaffirmed its full-year 2026 guidance of 9% to 10% revenue growth and earnings per share of $17.30 to $17.90.