American Express Q4 2025 Financial Results
American Express reported a robust growth in the fourth quarter of 2025, achieving a 10% year-over-year increase in revenue and a 16% rise in earnings per share (EPS). The company reported a 17% increase in card fees, showcasing resilience despite recent changes to annual fees.
CEO Stephen Squeri highlighted that American Express invested $6.3 billion in marketing in 2025, a 75% increase since 2019, culminating in higher customer demand and improved credit quality. Notably, Gen-Z spending rose 36% year-over-year, although it only accounted for 6% of total spending, indicating significant growth potential as this demographic ages.
Berkshire Hathaway holds a $53 billion stake in American Express, representing 22.1% of shares outstanding, and 16.4% of its entire equity portfolio. Over the past five years, American Express’s stock has increased by 201%, significantly outperforming the S&P 500, which rose by 91% during the same period.
