CEO Stephen Squeri expressed confidence in American Express's performance despite elevated oil prices. Squeri stated cardholders "don't care about gas prices."
First-quarter results show resilient spending among affluent customers. Luxury spending grew 18%. Rising fuel costs do not significantly impact the company's clientele.
Revenue increased 11% for the first quarter of 2026. Net income rose 15%. The premium-focused model buffers the company against economic pressures.