- Adjusted EBITDA was $66 million, representing a 25% margin despite a $7 million headwind from interest income, marking the fifth consecutive quarter of positive adjusted EBITDA excluding interest income.
- Customer funds held increased 17% year-over-year to $7 billion, partially offsetting lower interest income due to rate declines.
- Net income was $19 million, down from $32 million in the prior year quarter, with basic and diluted EPS at $0.05 versus $0.09 previously.
- Operating expenses rose 19% driven by labor costs, transaction costs, acquisitions, and investments in card products and technology.
- Payoneer reported Q2 2025 revenues of $261 million, up 9% year-over-year, with revenue excluding interest income reaching a record $202 million, up 16% year-over-year.
- Transaction costs increased 10% to $41 million but decreased as a percentage of revenue excluding interest income, reflecting operational efficiencies.
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- Annual card fees approached $10 billion, growing double digits for 29 consecutive quarters.
- Cardmember spending accelerated to 9% (8% FX adjusted), driven by strong retail and travel spending.
- Credit performance remained excellent with delinquency rates below 2019 levels and write-offs declining.
- Earnings per share (EPS) rose 19% to $4.14 for the quarter.
- Provision expense was $1.3 billion, including a $125 million reserve build reflecting balanced growth.
- Return on equity (ROE) was strong at 36% for the quarter.
- Revenues increased 11% year-over-year to a record $18.4 billion in Q3 2025.
- Total cardmember receivables grew 7% year-over-year, broadly in line with billing growth.
- American Express reported record revenues of $17.9 billion, up 9% year over year in Q2 2025.
- Capital position remains strong with CET1 ratio at 10%, stress capital buffer at the lowest permissible 2.5%, and ROE of 36%.
- Delinquency rates remained flat and write-off rates declined, reflecting strong credit quality.
- Earnings per share were $4.08, up 17% excluding last year's gain from the sale of the certified portfolio.
- Net card fees reached record levels, up 20% FX adjusted, more than doubling since 2019.
- Net interest income grew at a double-digit pace driven by balance sheet growth and margin expansion.
- Operating expenses grew 9% excluding certified, driven by investments in risk management and technology, but operating leverage improved with expenses as a percentage of revenue down from 25% to 21%.
- Reaffirmed full-year guidance of 8% to 10% revenue growth and EPS between $15 and $15.50.
- Returned $2 billion to shareholders including $0.6 billion dividends and $1.4 billion share repurchases.
- Total card member spending increased 7%, with strong growth in goods and services and restaurant spending, offset by softer airline and lodging spend.
Dafinchi