AmEx profits surge 13% as affluent customers splurge on luxury goods and travel
January 30, 2026
American Express reports a 13% profit increase in the fourth quarter. The credit card giant benefits from affluent clients spending on luxury goods, dining, and travel. The New York-based company earned $2.46 billion, or $3.53 a share, meeting analysts’ forecasts. AmEx continues to encourage spending with perks and rewards. In September, it refreshed the Platinum Card, adding a $400 annual dining credit but raising the annual fee to $895. Customers spent $506.2 billion in the fourth quarter, up from $464 billion a year ago. Gen-Z and Millennials now outspend Gen-X, marking a shift in spending habits.