# American Express Q3 Results Fall Short

> American Express reports $454 billion billed business, misses estimates, and plans 5% staff cuts.
- Title: American Express Q3 Results Fall Short · BigGo Finance
- Summary: American Express reports $454 billion billed business, misses estimates, and plans 5% staff cuts. American Express reported Q3 billed business of $454…
- Keywords: american express, billed business, net revenue, staff cuts, full-year profit guidance, adjusted earnings per share, credit quality, anti-money laundering fine, office of the comptroller of the currenc, federal reserve, finance, American
- Source: BigGo Finance — https://finance.biggo.com/news/b4c6331f-1dde-4128-8707-f919115eab30
- Author: BigGo Finance
- Published: 2026-10-23T13:35:16+00:00
- Read time: 1 min
- Topics: american express, q3, billed business, net revenue, staff cuts, full-year profit guidance, adjusted earnings per share, credit quality, anti-money laundering fine, office of the comptroller of the currenc, federal reserve, finance
## Q3 Billed Business Misses Estimates
American Express reported third-quarter 2026 billed business of $454 billion, below analysts' $456.9 billion estimate.
## Net Revenue Slightly Below Forecast
Net revenue of $20.06 billion fell slightly short of the $20.12 billion analysts forecasted.
## Adjusted EPS Beats Estimates
Adjusted earnings per share of $4.68 beat the $4.49 analyst average estimate.
## Full-Year Profit Guidance Raised
The company raised its full-year EPS guidance to $18.30, $18.60 from $17.30, $17.90.
## 5% Staff Cuts Announced
American Express plans to cut about 5% of its staff to improve operating efficiency.
## Credit Quality Improves
Net write-off rate fell to 1.8%, down from 1.9% a year earlier.
## Anti-Money Laundering Fine
The company was fined $350 million by the Office of the Comptroller of the Currency and the Federal Reserve.
## Market Reaction
Shares dropped 2.7% in premarket trading after the report.
## Profit Metrics Beat
Net income was $3.71 billion, up from $2.9 billion a year earlier.
## Key takeaway

American Express reported Q3 billed business of $454 billion, below estimates, and announced 5% staff cuts while raising full-year profit guidance.