Filing Flows › American Express (AXP) › Q3 2026 › vs Q2 2026
American Express (AXP) Q3 2026 vs Q2 2026 (quarter over quarter)
American Express's revenue rose $425M (+2%) from $19.6B in Q2 2026 to $20.1B in Q3 2026. Operating margin 22.6% against 20.7% (+1.9 pts).
American Express, Q3 2026: revenue $20.1B (+9% year over year), operating margin 22.6%, net earnings $3.7B, operating cash flow $5.4B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 22.6% | 20.7% | +1.9 pts |
| Net margin | 18.5% | 15.8% | +2.7 pts |
| Free cash flow margin | 22.1% | 22.8% | -0.7 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $20.1B | $19.6B | $425M | +2% |
| Operating profit | $4.5B | $4.1B | $460M | +11% |
| Costs & expenses | $15.5B | $15.6B | −$35.0M | -0.2% |
| Pre-tax earnings | $4.5B | $4.1B | $460M | +11% |
| Net earnings | $3.7B | $3.1B | $602M | +19% |
| Income tax | $819M | $961M | −$142M | -15% |
| Depreciation & amortization | $494M | $488M | $6.0M | +1% |
| Share-based compensation | $137M | $155M | −$18.0M | -12% |
| Working capital & other | $1.0B | $1.6B | −$577M | -36% |
| Operating cash flow | $5.4B | $5.4B | $13.0M | +0.2% |
| Free cash flow (OCF − capex) | $4.4B | $4.5B | −$36.0M | -0.8% |
| Capital expenditures | $947M | $898M | $49.0M | +5% |
Questions
How much did American Express's revenue grow quarter over quarter in Q3 2026?
American Express's revenue rose $425M (+2%) from $19.6B in Q2 2026 to $20.1B in Q3 2026. Operating margin 22.6% against 20.7% (+1.9 pts).