American Express Company

Millennial and Gen Z customers now make up the largest share of US consumer spending with average new platinum customer age 33 and gold card age 29.

Small business remains strong but middle market showed a slowdown, while Capital One acquired Brex intensifying the commercial technology competition.

2026 guidance of 9% to 10% revenue growth and EPS of $17.30 to $17.90 with quarterly dividend increased 16% to 95 cents per share.

Technology spend now $5 billion annually with third-generation data platform reducing key process times by 90% and calls per account down 25% over three years.