American Express Co.’s net income grew 9 percent in the second quarter, as spending by cardholders increased and the credit card issuer set aside less money to cover potential credit losses. A one-time gain related to the company’s business travel division also helped boost results.
The New York company’s latest earnings beat Wall Street’s expectations, but its 5 percent increase in revenue fell short.
Recommended Stories
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.