American Express (AXP) Q3 2025 10-Q Quarterly Report
American Express (AXP) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 17, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
American Express Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $18.4B Q3 2025, up 11% YoY from $16.6B; 9-month revenue $53.2B, up 9% YoY from $48.8B
- • Net income $2.9B Q3 2025 vs $2.5B YoY; operating margin approx. 18.1% (pretax income $3.8B / revenue $18.4B) vs 19.3% YoY ( $3.2B / $16.6B)
- • Best segment: International Card Services revenue $3.3B Q3, +14% YoY, billed business up 14%; Worst performer: Corporate & Other pretax loss $598M Q3, reduced from $809M YoY
- • Cash and equivalents increased $6.8B YoY to $54.7B; operating cash flow $15.4B for 9 months, up $7.1B YoY; deployed $2.9B capital via dividends and share repurchases Q3
- • Management confident in premium customer model and product refresh strategy; notes regulatory, geopolitical uncertainties and continued expenditure on marketing and technology; plans sustained capital returns maintaining CET1 ratio 10.5% within 10-11% target range
Risk Factors
- • No material changes to risk factors from 2024 Form 10-K reported this quarter
American Express Q3 2025 Quarterly FinancialsXBRL
Revenue
$10.4B
▲ +7.2% YoY▲ +0.9% QoQ
Net Income
$2.9B
▲ +15.8% YoY▲ +0.6% QoQ
Net Margin
27.9%
▲ +206bp YoY▼ -9bp QoQ
Source: XBRL data from American Express Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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