Direct Answer
American Express reports revenue across 4 business segments in its fiscal 2025 Form 10-K. US Consumer Services is the largest, with $34.8 billion of revenue (48% of the total), followed by Commercial Services at $16.9 billion (23%). 78% of revenue came from the United States.
How Does American Express Make Money?
No single line supplies a majority of revenue: the largest, US Consumer Services, is 48%, which spreads American Express's exposure across several demand drivers. Between fiscal 2024 and 2025, International Card Services grew fastest (+13.4%) and Global Merchant and Network Services slowest (+3.7%), so the revenue mix tilts toward International Card Services while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| US Consumer Services | $34.8 billion | $31.4 billion | 48.2% | 10.8% |
| Commercial Services | $16.9 billion | $15.9 billion | 23.4% | 6.7% |
| International Card Services | $13.0 billion | $11.5 billion | 18.0% | 13.4% |
| Global Merchant and Network Services | $7.8 billion | $7.5 billion | 10.7% | 3.7% |
Where Does American Express's Revenue Come From?
Regions follow the definitions in the filing; most companies assign revenue by customer location.
| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| United States | $56.0 billion | $51.5 billion | 77.6% | 8.8% |
| EMEA | $7.1 billion | $6.2 billion | 9.8% | 13.8% |
| APAC Geographic Region | $5.2 billion | $4.7 billion | 7.2% | 11.1% |
| Lacc Geographic Region | $4.2 billion | $3.8 billion | 5.8% | 9.1% |
What the Segment Figures Do Not Show
The rows above add up to 100% of American Express's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value American Express reported in the segment note and revenue disclosures of its Form 10-K filed February 6, 2026 (accession 0000004962-26-000080), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are American Express's business segments?
In its fiscal 2025 Form 10-K, American Express reports revenue for US Consumer Services, Commercial Services, International Card Services and Global Merchant and Network Services.
Which part of American Express brings in the most revenue?
US Consumer Services, with $34.8 billion of revenue in fiscal 2025, or 48% of the total.
How much of American Express's revenue comes from outside the United States?
22% in fiscal 2025, by the geographic breakdown American Express reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.