October 18, 2019 / 11:35 AM / a month ago

AmEx quarterly profit rises 6% on higher consumer spending

Oct 18 (Reuters) - Credit card issuer American Express Co reported a 6% rise in third-quarter profit on Friday, as more people used cards to shop, pay bills and make big ticket purchases.

Net income rose to $1.76 billion, or $2.08 per share, in the quarter ended Sept. 30, from $1.65 billion, or $1.88 per share, a year earlier, the company said.

Total revenue, excluding interest expense, rose 8% to $11 billion.

Analysts had expected a profit of $2.03 per share, on revenue of $10.94 billion, according to IBES data from Refinitiv, but it was not immediately clear if the numbers were comparable. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shailesh Kuber)

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