Free · no account · quoted from the filing

What changed in AXP's 10-Q

Source: 10-Q filed 2026-04-23 · compared against 10-Q 2025-10-17. Every passage below is quoted verbatim from the filing itself.

Card Member services expense

This filing

Card Member services expense increased, primarily due to higher usage of Card Member benefits and the new U.S. Platinum benefits.

Marketing expense

This filing

Marketing expense was relatively flat, reflecting consistent levels of spending on customer acquisition and brand advertising.

Other expenses

This filing

Other expenses decreased, primarily driven by a release of a reserve associated with international non-income tax, a gain recognized in the current period for the remeasurement of our ownership interest in our Switzerland joint venture...

Provisions for credit losses

This filing

Provision for Card balance credit losses increased, primarily due to a lower reserve release in the current period and higher net write-offs.

Credit quality

This filing

Net write-off rate — principal, interest and fees (a) 2.4 % 2.7 %

Effective tax rate

This filing

The effective tax rate was 21.4 percent and 22.4 percent for the three months ended March 31, 2026 and 2025, respectively.

Capital structure

This filing

The $2,250 million of eligible subordinated notes includes the $500 million subordinated debt issued in February 2026...

What it means — the analyst reading

The passages above are the company's own words. The plain-English reading of them — what changed, why it matters, and the direction of travel — is part of the Filing Change Monitor.

See the Filing Change Monitor →

Compared from narrative excerpts (outlook, risks, MD&A) of both filings — quotes are verbatim from the new filing. Not advice. Source: company SEC filings via stockportfolio.pro. Educational, not investment advice.