American Express quarterly profit rises 6% on higher consumer spending
Reuters
Published Oct 18, 2019 12:44
American Express quarterly profit rises 6% on higher consumer spending
(Reuters) - Credit card issuer American Express Co (N:AXP) reported a 6% rise in third-quarter profit on Friday, as more people used cards to shop, pay bills and make big ticket purchases.
Net income rose to $1.76 billion (1.36 billion pounds), or $2.08 per share, in the quarter ended Sept. 30, from $1.65 billion, or $1.88 per share, a year earlier, the company said.
Total revenue, excluding interest expense, rose 8% to $11 billion.
Analysts had expected a profit of $2.03 per share, on revenue of $10.94 billion, according to IBES data from Refinitiv, but it was not immediately clear if the numbers were comparable.
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Written By: Reuters
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