American Express shares plunged 6.5% after missing revenue targets in Q2—despite beating profit estimates and raising its full-year forecast. Revenue hit $19.64B, just shy of $19.69B expected, while EPS soared 11% to $4.53. The dip? The company’s reinvesting extra revenue into growth, like higher Platinum Card fees that boosted income but also raised costs. Credit quality remains strong, with lower provisions and flat bad debt, plus card spending hit its highest growth in three years. This sell-off could be a long-term buying opportunity for investors in this premium business.
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