Published on 19/07/2019 5:24:31 PM | Source: Reuters

AmEx quarterly profit rises 8.5%

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Credit card issuer American Express Co reported an 8.5% rise in second-quarter profit on Friday, boosted by higher customer spending.

Net income rose to $1.76 billion, or $2.07 per share, in the quarter ended June 30, from $1.62 billion, or $1.84 per share, a year earlier, the company said.

Total revenue, excluding interest expense, rose 8.4% to $10.84 billion.

(Reporting by Bharath Manjesh in Bengaluru; Editing by Shinjini Ganguli)