American Express reported a 39% increase in second-quarter profits, reaching $3.02 billion, driven by higher cardmember spending and increased balances. Excluding one-time gains, the company earned $3.49 per share, beating analysts' expectations of $3.24 per share. The revenue rose 9% to $16.33 billion, although it fell short of the forecasted $16.56 billion. Despite the positive earnings report, shares fell by more than 4% as net interest income and overall revenue did not meet some market expectations. CEO Stephen Squeri announced an increased full-year profit forecast to $13.30-$13.80 per share, up from $12.65-$13.15, citing strong core business performance and strategic investments. The company also highlighted stable growth in billings, a high number of new card acquisitions, and excellent credit performance.