Tag: $American Express

American Express’ affluent cardholders got comfortable spending more freely again late last year, Chief Financial Officer Christophe Le Caillec told CNBC.

American Express reported a 12% jump in fourth-quarter profit on Friday, as more consumers swiped cards during the holiday season for travel and online shopping.

UBS is offloading part of the Credit Suisse business it acquired last year with a deal to sell the fallen bank’s 50% stake in credit card provider Swisscard.

American Express reported third-quarter earnings per share of $3.49, topping analysts’ forecasts of $3.38. Net income rose to $2.51 billion; analysts polled by FactSet had expected $2.34 billion.

Shares of American Express fell after rising earlier in the premarket session Friday after the company reported second-quarter profit that topped analysts’ expectations and raised earnings per share guidance.

American Express reported an increase in first-quarter profit and revenue as overall spending by AmEx cardmembers, who are generally more affluent, rose despite higher interest rates.

American Express shares rose Friday after the card issuer reported quarterly earnings below estimates but offered strong guidance and a dividend boost.

Oct 20 (Reuters) – Credit card giant American Express (AXP.N) on Friday reported third-quarter profit that beat expectations, helped by resilient spending from its wealthy customers who shrugged off concerns about an economic downturn.

A fifth straight quarter of record revenue and an earnings beat hasn’t been enough to keep shares in American Express AXP –0.01% afloat on Friday. The card issuer has seen a slowdown in activity and continues to brace for debt struggles among customers.