By ALEX VEIGA, Associated Press
American Express says its net income grew 5 percent in the second quarter as cardholder spending increased.
The New York-based company on Wednesday posted profit of $1.41 billion, or $1.27 per share, for the three months ended June 30. That compares with earnings of $1.34 billion, or $1.15 per share, in the same period last year.
Revenue rose 4 percent, to $8.25 billion from about $8 billion.
Analysts polled by FactSet were expecting, on average, earnings of $1.22 per share on revenue of $8.3 billion.
Spending by holders of American Express cards grew 7 percent during the quarter, reflecting gains in the U.S. and abroad. The credit card issuer's income from interest and fees increased.
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