AXP · Earnings call · 2026Q3T · Full report

International Market Growth

AMERICAN EXPRESS CO · 2026-10-23 · Importance 36 · Surprise 40

International spend grew 11%, marking 22 consecutive quarters of double-digit growth, although management noted it had moderated from 13%. Customer acquisition remains strong, with millennials and Gen Z representing the predominant acquisition demographics. Merchant acceptance expanded to more than 190 million locations globally, up from 160 million a year earlier. Outside the U.S., locations accepting American Express have more than doubled over four years.

Key facts

• Amex merchant coverage reached over 190 million locations globally, up from 160 million a year earlier; outside the U.S., accepting locations more than doubled over four years.
• International spending grew 11% in Q3.
• International billed-business growth had been double-digit for 22 consecutive quarters; it was 11% in Q3, down from 13%.