Current location:entertainment >>
American Express profits jump 34%, helped by jump in new customers, higher spending
entertainment3People have gathered around
IntroductionNEW YORK (AP) — Credit card giant American Express posted a 34% jump in its first quarter profits on ...
NEW YORK (AP) — Credit card giant American Express posted a 34% jump in its first quarter profits on Friday, helped by more customers spending on its namesake cards as well as more customers keeping a balance on the cards.
The New York-based company said it earned $2.44 billion in the first three months of the year, or $3.33 a share, up from $1.82 billion, or $2.40 a share, a year earlier. The results exceeded Wall Street’s expectations, who were looking for roughly $2.95 a share in profits for the quarter.
The jump in profits for AmEx came largely from higher cardmember spending on their accounts as well as more balances collecting interest. The company had $15.8 billion in revenue in the quarter, up 11% from a year earlier.
AmEx customers spent $419.2 billion on their cards in the quarter, up 5% from a year earlier. AmEx takes a small percentage of each transaction spent on their cards as a fee from merchants, which was its primary business model for decades.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Universal Unfoldings news portal”。http://malta.downmusic.org/news-79a599365.html
Related articles
Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
entertainmentWASHINGTON (AP) — The Supreme Court on Monday declined, for now, to hear a challenge to a Maryland l ...
Read moreChina willing to expand cooperation with Australia: Wang Yi
entertainmentChina is willing to work with Australia in fostering more common interests and building a fair, tran ...
Read moreGreen efforts gain more ground
entertainmentBraving high winds and occasional sandstorms, Du Wenhua and his co-workers engaged in meticulously o ...
Read more
Popular articles
- Amtrak train hits pickup truck in upstate New York, 3 dead including child
- Ambassador encourages education exchanges between China and UK
- Xi calls for closer ties with Vietnam
- Xi calls for steps to energize central region
- Celebrity birthdays for the week of May 26
- Beijing strongly protests Manila's recent remarks
Latest articles
Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
Blinken claiming that China is spreading disinformation is in itself disinformation: Chinese FM
Xi hails new chapter of China
Xi holds talks with Indonesia's president
What's next for Iran after death of its president in crash?
States follow Texas on immigration bill
LINKS
- Raymond scores late in 3rd and OT to keep Red Wings playoffs alive with 5
- Medical insurance fund remains strong, despite aging population
- MPs are urged to finally pass the Rwanda bill after 535 migrants cross the Channel on Sunday
- Chinese boy bands eye global stardom under new deal
- QUENTIN LETTS: We can guess who plenty of Labour MPs would cheer in an Israel
- Canadian gov't announces plan to solve national housing crisis
- US CPI accelerates to 3.5% in March
- China's GDP grew 5.3% in Q1, beating expectations
- China's GDP grew 5.3% in Q1, beating expectations
- China's Q1 foreign trade surge signals economic upturn