American Express raises revenue outlook, but shares fall after earnings

American Express reported higher second-quarter earnings and raised its full-year revenue-growth forecast, offering a positive signal on spending among affluent consumers.

The company posted net income of $3.1 billion, compared with $2.9 billion a year earlier. Continued spending by affluent cardholders supported the stronger outlook.

The results matter beyond American Express because the company provides a closely watched view of higher-income consumer activity and credit quality. Resilient spending among its customers can support payment volumes and revenue across the card and consumer-finance industries.

Investors nevertheless reacted negatively, with American Express shares falling about 5% during the session. The decline indicated that stronger earnings and guidance were not enough to meet market expectations, while rising customer-acquisition costs remained a concern.

The reported earnings, increased revenue-growth forecast and share decline are confirmed. The event package does not specify the revised forecast range or quantify customer-acquisition costs, leaving uncertainty about how those costs may affect future profitability and whether current spending trends will persist.