American Express (AXP) stock traded near $326 in premarket trading on Friday, up about 1%, after closing Thursday's session at $325.17, a gain of 0.5%. The move followed third-quarter results that came in ahead of Wall Street's profit expectations, even as revenue finished just short of estimates.

The company reported adjusted earnings of $4.68 per share for the quarter, topping the $4.50 analysts had anticipated and up roughly 13% from the $4.14 earned a year earlier.

AMERICAN EXPRESS $AXP Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $20.1B (Est. $20.12B) 🟡; +9% YoY 🔹 GAAP EPS: $5.42; +31% YoY 🔹 Adj. EPS: $4.68 (Est. $4.48) 🟢; +13% YoY 🔹 Pretax Income: $4.53B; +18% YoY 🔹 Net Income: $3.7B; +28% YoY FY26 Guide: 🔹 Adj. EPS: $17.60-$17.90 (Est.… pic.twitter.com/vb5esJIviu

— Wall St Engine (@wallstengine) October 23, 2026

Revenue rose 8.9% to $20.06 billion, a touch below the $20.12 billion analysts projected, according to FactSet.

Spending and Guidance

Billed business, the company's measure of card spending, climbed 8% to $454 billion on a foreign-exchange-adjusted basis. That was down slightly from $455.8 billion in the second quarter.

American Express attributed the growth to higher card member spending and stronger net interest income, with rising card balances and growth in card fees also lending support.

Chief Executive Stephen Squeri pointed to strength in billings, new card acquisitions and card member retention, and cited excellent credit quality. Elevated rates and persistent inflation have done little to slow the company's largely affluent cardholder base, which has kept spending.

One report said American Express narrowed its full-year adjusted earnings guidance to a range of $17.60 to $17.90 per share, from the prior range of $17.30 to $17.90. The revision lifted the floor of the range by 30 cents while leaving the ceiling unchanged. The company also said it remains on track for full-year revenue growth of 10%.

Reports on the figures differ, however. Investing.com cited a raised EPS range of $18.30 to $18.60 and third-quarter EPS of $5.42. Investing.com also reported the stock was slightly lower in Friday premarket trading, while other reports showed a small gain. Given the conflicting numbers, the company's own earnings release remains the definitive reference for the official guidance.

How the Stock Has Traded

Even with Thursday's gain, AXP is down 12% this year as of the closing bell — a year-to-date decline that stands in contrast to the double-digit earnings growth reported for the quarter. The shares have been climbing back in recent weeks, however. They have risen 7% since closing at $302.09 on Oct. 1, a level that marked a recent bottom, and the stock has reclaimed its 50-day moving average, a level widely watched by technical traders.

The latest reading put AXP near $326 in premarket trading on Friday, with reports divided on whether it was marginally higher or marginally lower. Looking ahead, the reiterated 10% full-year revenue growth target and the adjusted EPS guidance range now stand as the markers against which the company's remaining results for the year can be measured.