FROM: canada.com - American Express News
American Express earnings rise
Reuters
Published: Thursday, April 19, 2007
NEW YORK (Reuters) - American Express Co. , the fourth largest U.S. credit card company, said on Thursday that first-quarter profit rose, helped by higher card holder spending.
The New York-based company said net income rose to $1.057 billion, or 87 cents a share, from $873 million, or 69 cents a share, in the year-ago period.
Analysts on average had expected earnings of 79 cents a share before one-time items, according to Reuters Estimates.
A sample America Express-branded credit card is seen in an undated publicity photo. American Express Co., the fourth largest U.S. credit card company, said on Thursday that first-quarter profit rose, helped by higher card holder spending. REUTERS/PRNewsFotoView Larger Image View Larger Image
A sample America Express-branded credit card is seen in an undated publicity photo. American Express Co., the fourth largest U.S. credit card company, said on Thursday that first-quarter profit rose, helped by higher card holder spending. REUTERS/PRNewsFoto
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Revenue, net of interest expense, rose 10 percent to $6.67 billion.
Total cards in force rose 10 percent to 79.9 million from last year's first quarter. Average basic cardmember spending rose 8 percent to $2,817.
American Express earnings rise
Reuters
Published: Thursday, April 19, 2007
NEW YORK (Reuters) - American Express Co. , the fourth largest U.S. credit card company, said on Thursday that first-quarter profit rose, helped by higher card holder spending.
The New York-based company said net income rose to $1.057 billion, or 87 cents a share, from $873 million, or 69 cents a share, in the year-ago period.
Analysts on average had expected earnings of 79 cents a share before one-time items, according to Reuters Estimates.
A sample America Express-branded credit card is seen in an undated publicity photo. American Express Co., the fourth largest U.S. credit card company, said on Thursday that first-quarter profit rose, helped by higher card holder spending. REUTERS/PRNewsFotoView Larger Image View Larger Image
A sample America Express-branded credit card is seen in an undated publicity photo. American Express Co., the fourth largest U.S. credit card company, said on Thursday that first-quarter profit rose, helped by higher card holder spending. REUTERS/PRNewsFoto
Email to a friendEmail to a friendPrinter friendlyPrinter friendly
Font:
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Revenue, net of interest expense, rose 10 percent to $6.67 billion.
Total cards in force rose 10 percent to 79.9 million from last year's first quarter. Average basic cardmember spending rose 8 percent to $2,817.
