American Express Q3 2026: The $895 Platinum Bet Is Paying Off

Exponential Learning · Oct 23, 2026 · 15m

American Express beat on earnings and raised full-year guidance in Q3 2026: adjusted EPS of $4.68 (+13%), record revenue of $20.1B (+9%), billed business +8% to $454B, provisions down to $1.0B with a 1.8% write-off rate. Alex and Jordan break down the premium card flywheel, the Platinum refresh one year in, pristine credit quality, the restructuring plan, and the bull vs bear case with the stock ~16% below its 52-week high.