Filing Flows › American Express (AXP) › Q1 2025
American Express (AXP) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 18, 2025
American Express (AXP) reported revenue of $17.0B for the first quarter 2025 (Q1 2025), +7% from a year earlier and -1% from the quarter before. Operating margin was 19.6%, net earnings $2.6B (15.2% of revenue).
American Express, Q1 2025: revenue $17.0B (+7% year over year), operating margin 19.6%, net earnings $2.6B, operating cash flow $4.8B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $17.0B | -1% | +7% |
| Operating profit | $3.3B | +21% | +6% |
| Net earnings | $2.6B | +19% | +6% |
| Operating cash flow | $4.8B | -18% | -14% |
| Free cash flow | $4.3B | -18% | -16% |
What changed
Revenue was $17.0B in Q1 2025, up 7% year over year and down 1% from the previous quarter.
Operating profit was $3.3B, a 19.6% margin (down 0.3 points year over year). Of the extra revenue versus a year earlier, 16% reached operating profit, below the 20% margin then. Total costs grew 8% against revenue growth of 7%. Net earnings were $2.6B, up 6% year over year. The effective tax rate was 22.4%.
Operating cash flow was $4.8B (down 14% year over year), 184% of net earnings. Non-cash charges added back $0.43B of depreciation and amortization and $0.16B of share-based compensation. Working capital and other items added $1.6B. Capital expenditures of $0.43B left free cash flow of $4.3B.
Questions
What was American Express' revenue in the first quarter 2025?
American Express (AXP) reported revenue of $17.0B for the first quarter 2025 (Q1 2025), +7% from a year earlier and -1% from the quarter before.
Was American Express profitable in the first quarter 2025?
Operating profit was $3.3B (19.6% of revenue) and net earnings $2.6B.
Source: American Express 10-Q on SEC EDGAR.