Filing Flows › American Express (AXP) › Q2 2026
American Express (AXP) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 24, 2026
American Express (AXP) reported revenue of $19.6B for the second quarter 2026 (Q2 2026), +10% from a year earlier and +4% from the quarter before. Operating margin was 20.7%, net earnings $3.1B (15.8% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.6B | +4% | +10% |
| Operating profit | $4.1B | +8% | +15% |
| Net earnings | $3.1B | +5% | +8% |
| Operating cash flow | $5.4B | +41% | +23% |
| Free cash flow | $4.5B | +68% | +19% |
What changed
Revenue was $19.6B in Q2 2026, up 10% year over year and up 4% from the previous quarter.
Operating profit was $4.1B, a 20.7% margin (up 0.9 points year over year). Of the extra revenue versus Q2 2025, 29% reached operating profit, above the 20% margin then. Total costs grew 9% against revenue growth of 10%. Net earnings were $3.1B, up 8% year over year. The effective tax rate was 23.6%.
Operating cash flow was $5.4B (up 23% year over year), 173% of net earnings. Non-cash charges added back $0.49B of depreciation and amortization and $0.15B of share-based compensation. Working capital and other items added $1.6B. Capital expenditures of $0.90B left free cash flow of $4.5B.
Questions
What was American Express' revenue in the second quarter 2026?
American Express (AXP) reported revenue of $19.6B for the second quarter 2026 (Q2 2026), +10% from a year earlier and +4% from the quarter before.
Was American Express profitable in the second quarter 2026?
Operating profit was $4.1B (20.7% of revenue) and net earnings $3.1B.
Source: American Express 10-Q on SEC EDGAR.