American Express Shares Slip Premarket as Card Spending Falls Short of Expectations

American Express shares fell after the company reported that transaction volume on its credit cards and other products came in below analyst expectations. Third-quarter card member spending totaled $454 billion, below the survey average forecast of $456.9 billion. The company said its exit from some small business co-branded card partnerships weighed on results. However, as affluent consumers continued to increase spending on premium credit cards, American Express raised its full-year earnings guidance. In a statement on Friday, the company said it expects 2026 earnings per share of $18.30 to $18.60, up from its previous forecast of $17.30 to $17.90. Third-quarter adjusted earnings per share were $4.68, above the analyst average estimate of $4.49.