Dow 30 component American Express Company (AXP), and its subsidiaries provide customers and businesses globally with charge and credit payment card products and travel-related services. They look to enrich the lives of their customers and build business success.
American Express reported its Q3 profit on Friday, performing beyond expectations as more people used cards to transact in the period. The company which has been investing in its reward programs on its cards and partnering with a number of firms has been facing a tough fight with JPMorgan Chase’s Sapphire Reserve and Citigroup’s Prestige Card.
The Credit card giant reported net income of $1.76B billion, or $2.08/share for the quarter exceeding last year’s earnings at $1.65 billion, or $1.88 per share. Higher customer spending, net interest income, and card fees triggered revenue of $11 billion, an increase of 8% excluding interest expense.
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