American Express (AXP) Cost of Revenue (2021 - 2026)

American Express' Cost of Revenue history runs 6 years deep, the most recent figure standing at $1.5 billion for Q1 2026.

• In Q1 2026, Cost of Revenue changed 0.4% year-over-year to $1.5 billion; the TTM figure through Mar 2026 stood at $6.2 billion (up 3.24% YoY), while the FY2025 annual figure was $6.3 billion, up 3.51% from the prior year.
• Cost of Revenue came in at $1.5 billion for Q1 2026 at American Express, down from $1.6 billion in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $1.6 billion in Q4 2024 to a low of $1.2 billion in Q1 2022.
• A 5-year average of $1.4 billion and a median of $1.5 billion in 2024 frame the typical range for Cost of Revenue.
• Across the five-year window, Cost of Revenue declined 19.62% in 2022 and jumped 31.43% in 2024, its largest moves.
• American Express' Cost of Revenue stood at $1.3 billion in 2022, then decreased by 3.61% to $1.2 billion in 2023, then jumped by 31.43% to $1.6 billion in 2024, then decreased by 0.12% to $1.6 billion in 2025, then fell by 8.19% to $1.5 billion in 2026.
• According to Business Quant data, Cost of Revenue over the past three periods registered $1.5 billion, $1.6 billion, and $1.6 billion for Q1 2026, Q4 2025, and Q3 2025 respectively.