American Express Q1 2025 earnings rose 6% as affluent customers kept spending steadily. The company reported a profit of $2.58 billion, or $3.64 per share, for the quarter ending March 31. This compares to $2.44 billion, or $3.33 per share, in the same period last year.
Shares of the New York-based credit card firm jumped 4.1% in premarket trading to $263.34 after the announcement.
CEO Stephen Squeri credited the growth to loyal, high-spending customers. “Spending, customer retention, and demand for premium products stayed strong—often better than in 2024,” he said.
AmEx has long focused on attracting wealthy customers with exclusive perks and rewards. This strategy helped cushion the impact of economic concerns and tariff fears.
Earlier this month, President Donald Trump announced new tariffs. He labeled April 2 “Liberation Day,” sparking some consumer anxiety. However, AmEx avoided major fallout since the full details of the tariffs only came later.
The company reported $1.2 billion in provisions for credit losses, slightly down from $1.3 billion a year ago. That shows stable repayment behavior among cardholders.
Despite an 8% stock drop since the tariff announcement, Squeri remains optimistic. He said that spending and credit patterns have remained steady so far.
American Express still expects revenue to grow by 8% to 10% in 2025. It also forecasts earnings between $15 and $15.50 per share.
With premium customers continuing to spend, AmEx looks set to maintain strong performance—despite political and economic headwinds.
