American Express reported a profit of $3.11 billion for the quarter ending June 30, eclipsing the $2.89 billion recorded during the same period last year. Earnings reached $4.53 per share, topping the $4.40 forecast by FactSet analysts. Revenue net of interest expense climbed 10% to $19.64 billion, buoyed by a 9% jump in card member spending—the fastest growth rate for the firm in three years.

Elsewhere, Booz Allen Hamilton is seeing profit gains fueled by aggressive cost-cutting and heightened demand for its national-security portfolio. CEO Horacio Rozanski noted that the company is doubling down on investments in autonomy, physical artificial intelligence, and quantum technologies to maintain this edge. However, the sector faced a setback in the fintech space: London-listed Wise Group saw its shares tumble after U.S. regulators rejected its national trust bank license application, pointing to specific failures in the company’s anti-money laundering and counter-terrorism financing protocols.