Credit card issuer American Express Co beat analysts' estimates for quarter...
FILE PHOTO: American Express logo and trading symbol are displayed on a screen at the New York Stock Exchange in New York, U.S., December 6, 2017. REUTERS/Brendan McDermid
- Credit card issuer American Express Co beat analysts’ estimates for quarterly profit on Friday, as a healthy U.S. economy fueled higher spending by its customers. Customer spending rose 7% in the United States, the company’s biggest market, and 5% globally in the second quarter. U.S. consumer spending increased in May and April. Debit and credit card purchase volumes each rose 6% at Wells Fargo , which reported results last week, underscoring consumer confidence.
Total expenses, however, rose 9.2% as AmEx bolstered its rewards programs to attract more high-spending customers and counter competition from big bank rivals.Net income rose to $1.76 billion, or $2.07 per share, in the quarter ended June 30, from $1.62 billion, or $1.84 per share, a year earlier, the company said. (
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
8 Fashion Lessons We Learned from Blair Waldorf, Former W Intern and Gossip Girl's True Arbiter of StyleIn honor of GossipGirl's reboot, here's everything we learned from former W intern, Blair Waldorf.
Leer más »
American Express's stock turns lower after profit beat and outlook maintainedShares of American Express Co. swung to a loss of 1.3% in premarket trading Friday, erasing earlier gains, after the credit card and payments company...
Leer más »
Best Small Business Credit Cards Offers (Up to $1000 in Rewards)The best small business credit cards come with many perks and hefty bonuses up to $1,000. However, comparing the best business credit card offers is hard, there are a lot of business credit cards to choose from. Personally, I carry the Ink Preferred since it's the best Chase Business credit card.
Leer más »
Thanks to Hilton rebranding one of its credit cards, you can now earn up to 130,000 points with 2 new welcome bonusesIf you have any vacation plans on the horizon, check out these two new Hilton Amex offers, which can earn you up to 130,000 points toward a hotel award stay
Leer más »
Issuing banks need to boost rewards to better their credit card spendIssuers' Q2 improvements in credit card sales align with US retail's performance overall, which is also making steps in the right direction:
Leer más »
9 French Staple Skin-Care Products You Can Buy on AmazonNow that I live in NYC, I get my pharmacy faves online.
Leer más »