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

American Express has disclosed Cost of Revenue across 6 years of filings, most recently posting $1.5 billion for Q1 2026.

• Cost of Revenue for Q1 2026 came in at $1.5 billion, changed 0.4% year-over-year; the trailing twelve-month figure through Mar 2026 was $6.2 billion (up 3.24% YoY), and the FY2025 annual result 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.
• The 5-year median for Cost of Revenue is $1.5 billion (2024), against an average of $1.4 billion.
• Across the five-year window, Cost of Revenue dropped 19.62% in 2022 and soared 31.43% in 2024, its largest moves.
• American Express' Cost of Revenue stood at $1.3 billion in 2022, then retreated by 3.61% to $1.2 billion in 2023, then soared by 31.43% to $1.6 billion in 2024, then retreated by 0.12% to $1.6 billion in 2025, then declined by 8.19% to $1.5 billion in 2026.
• The last three Cost of Revenue figures came in at $1.5 billion (Q1 2026), $1.6 billion (Q4 2025), and $1.6 billion (Q3 2025), per Business Quant data.