American Express Reports Earnings Growth Amid Economic Uncertainty

American Express reported a strong first quarter, with profit rising 6% to $2.58 billion, or $3.64 per share, surpassing Wall Street expectations. Revenue increased by about 7% to nearly $17 billion, supported by resilient spending among its affluent customer base despite concerns over tariffs and broader economic uncertainty. The company maintained its full-year guidance of 8%–10% revenue growth and projected earnings of $15 to $15.50 per share, citing steady cardholder spending and robust demand for premium products. Provisions for credit losses were $1.2 billion, slightly lower than the previous year, suggesting healthy credit performance. CEO Stephen Squeri emphasized that AmEx's wealthy clientele continue to spend confidently, making the company relatively resistant to economic downturns. The firm's strategy of focusing on high-income cardholders and premium rewards has helped buffer it from market volatility.