Investing.com -- American Express reported better-than-expected first-quarter results on Thursday, as higher card spending, growing card balances and strong fee growth helped the payments giant top Wall Street forecasts.

Shares in the company rose 1% in premarket trading by 07:06 ET.

The company posted earnings per share of $4.28, beating analyst estimates of $4.00, while revenue came in at $18.91 billion on an FX-adjusted basis, up 10% year-on-year and ahead of the consensus estimate of $18.61 billion.

American Express said the increase was primarily driven by higher Card Member spending, increased net interest income supported by growth in card balances, and strong card fee growth.

“We had a very strong start to the year, reflecting continued momentum across our premium customer base and execution of our proven growth strategy," said CEO Stephen Squeri.

The company reaffirmed its full-year 2026 guidance, continuing to expect revenue growth of 9% to 10% and earnings per share in the range of $17.30 to $17.90, versus the consensus of $17.56.