AXP — what changed in the latest 10-Q
A section-by-section comparison of AXP's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-23 vs the prior 10-Q · 2026-07-24
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +29 | −29 | ~107 | 144 |
| Market risk (Item 3) | Text added/removed | +1 | 0 | ~1 | 5 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Other information | Text added/removed | +3 | −1 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-23
(b)Reflects net income, less (i) earnings allocated to participating share awards of $23 million and $20 million for the three months ended September 30, 2026 and 2025, respectively, and $62 million and $56 million for the nine months ended September 30, 2026 and 2025, respectively, (ii) dividends o…
We delivered strong results for the third quarter of 2026, reflecting the strength of our premium customer base, success of our product refresh strategy and power of our differentiated Membership Model. We continued to see strong Card Member spend, new card acquisitions and customer retention, and e…
Billed business grew 8 percent year-over-year, in line with the trend of the past several quarters. Goods & Services (G&S) spend, which accounts for over 70 percent of our total billed business, grew 7 percent, and reflected the impact of exiting two small business cobrand held-for-sale portfolios. …
U.S. Consumer Services billed business grew 9 percent, driven by continued momentum in spending by Millennial and Gen-Z Card Members, our largest and fastest-growing cohort. Commercial Services billed business grew 3 percent, and reflected the previously-mentioned exits from small business cobrand h…
Growth in Card Member rewards, Card Member services and Business development expenses (collectively, variable customer engagement expenses) were driven by Card Member spending, usage of Card Member benefits and enhancements we made to the value propositions of our refreshed U.S. Platinum cards last …
Text removed vs the prior filing · source: 10-Q · 2026-07-24
(b)Reflects net income, less (i) earnings allocated to participating share awards of $20 million and $18 million for the three months ended June 30, 2026 and 2025, respectively, and $39 million and $36 million for the six months ended June 30, 2026 and 2025, respectively, and (ii) dividends on prefe…
We delivered strong results for the second quarter of 2026, reflecting the strength of our premium customer base, success of our product refresh strategy and power of our differentiated Membership Model. The combination of Card Member spend and revenue momentum, excellent credit performance and disc…
Billed business grew 9 percent year-over-year, reflecting broad-based growth across both Goods & Services (G&S) and Travel & Entertainment (T&E) spend categories. G&S spend grew 9 percent, driven by continued momentum in retail spending. T&E spend grew 10 percent, driven by sustained strength in res…
U.S. Consumer Services billed business grew 11 percent, driven by our premium card portfolios, including the acceleration in the U.S. Platinum portfolio following the refresh last year. We continue to see strong engagement from our younger customers, with continued momentum in spending by Millennial…
Growth in Card Member rewards, Card Member services and Business development expenses (collectively, variable customer engagement expenses) were driven by Card Member spending, including in categories like airlines where customers earn and use rewards, enhancements we made to the value propositions …
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-10-23
Instantaneous Parallel Rate Shocks as of September 30, 2026 (a)
Other information
Text added vs the prior filing · source: 10-Q · 2026-10-23
Our independent directors elected Christopher D. Young to serve as Lead Independent Director of the Board of Directors, effective January 1, 2027. Mr. Young succeeds John J. Brennan who will not stand for reelection at our 2027 annual meeting of shareholders as he will have reached our mandatory ret…
On October 21, 2026, our filing of a Certificate of Amendment to our Amended and Restated Certificate of Incorporation (the “Certificate of Amendment”) was accepted by the Secretary of State of the State of New York, which had the effect of eliminating from our Amended and Restated Certificate of In…
During the three months ended September 30, 2026, none of our directors or officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense con…
Text removed vs the prior filing · source: 10-Q · 2026-07-24
During the three months ended June 30, 2026, none of our directors or officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditio…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice