American Express CEO: Our cardholders don't care about high gas prices right now

American Express (AXP) banal fell astatine the open, adjacent arsenic results bushed crossed the board. But considering US households were deed implicit the caput with $4 per gallon state successful the quarter, 1 could admit the resiliency of the paper giant's business.

"I deliberation the awesome statistic ... I would absorption connected is 18% maturation successful retail luxury spend, 12% maturation successful premium compartment connected airlines, and planetary question bookings being astatine a grounds high," Amex CEO Stephen Squeri told Yahoo Finance moments aft the institution released earnings. "That tells you they [our cardholders] don't attraction astir state prices."

• Revenue accrued 11% twelvemonth implicit twelvemonth to $18.91 cardinal (consensus estimate: $18.62 billion)

• Earnings per stock were up 18% twelvemonth implicit twelvemonth to $4.28 (consensus estimate: $4.03)

• Billed concern was up 10% twelvemonth implicit twelvemonth to $428 cardinal (consensus estimate: $420.57 billion)

• Spending by category:

  • Retail was up 11%

  • Luxury goods spending was up 18%

  • Restaurant income were up 9%

  • Spending connected premium hose cabins was up 12%

• Amex reiterated its 2026 income outlook of +9% to +10% growth

• Its 2026 net per stock outlook was $17.30 to $17.90 (consensus estimate: $17.57)

Amex raised the yearly interest connected its iconic Platinum paper to $895 connected Sept. 23, 2025, up $200. The institution volition apt consciousness that terms payment implicit the adjacent fewer quarters.

Read more: Amex conscionable revamped the Platinum Card — here's however overmuch you tin get with this luxury question card

When Yahoo Finance caught up with the high-energy Squeri, his comments suggested that consumers are much resilient close present than galore economists judge (though not the record-setting, forward-looking banal market).

"Look, we're not typical of the economy," Squeri said. "From a [billings] maturation perspective, it's due to the fact that the premium user is inactive spending. Are they immune? You know, our paper members are rolling with it. They're inactive spending successful restaurants, they're spending successful lodging, they're spending connected travel."

"I deliberation 1 of the starring indicators present that they're going to proceed to walk is the precocious question bookings," helium added. "They proceed to publication successful advance. So lone clip volition archer what volition happen, but we consciousness truly confident."