Filing Flows › American Express (AXP) › Q2 2026 › vs Q2 2025
American Express (AXP) Q2 2026 vs Q2 2025 (year over year)
American Express's revenue rose $1.8B (+10%) from $17.9B in Q2 2025 to $19.6B in Q2 2026. Operating margin 20.7% against 19.9% (+0.9 pts).
American Express, Q2 2026: revenue $19.6B (+10% year over year), operating margin 20.7%, net earnings $3.1B, operating cash flow $5.4B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 20.7% | 19.9% | +0.9 pts |
| Net margin | 15.8% | 16.2% | -0.3 pts |
| Free cash flow margin | 22.8% | 21.0% | +1.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $19.6B | $17.9B | $1.8B | +10% |
| Operating profit | $4.1B | $3.5B | $521M | +15% |
| Costs & expenses | $15.6B | $14.3B | $1.3B | +9% |
| Pre-tax earnings | $4.1B | $3.5B | $521M | +15% |
| Net earnings | $3.1B | $2.9B | $225M | +8% |
| Income tax | $961M | $665M | $296M | +45% |
| Depreciation & amortization | $488M | $427M | $61.0M | +14% |
| Share-based compensation | $155M | $127M | $28.0M | +22% |
| Working capital & other | $1.6B | $925M | $693M | +75% |
| Operating cash flow | $5.4B | $4.4B | $1.0B | +23% |
| Free cash flow (OCF − capex) | $4.5B | $3.7B | $728M | +19% |
| Capital expenditures | $898M | $619M | $279M | +45% |
Questions
How much did American Express's revenue grow year over year in Q2 2026?
American Express's revenue rose $1.8B (+10%) from $17.9B in Q2 2025 to $19.6B in Q2 2026. Operating margin 20.7% against 19.9% (+0.9 pts).