American Express Profit Doubles as US Holiday Shoppers Spend More

Thursday, 16 Jan 2014 04:25 PM

 

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Credit card company American Express Co.'s quarterly profit more than doubled as it gained from higher consumer spending during the U.S. holiday season.

The company's net income rose to $1.31 billion, or $1.21 per share, for the fourth quarter ended Dec. 31, from $637 million, or 56 cents per share, a year earlier.

Total revenue, net of interest expense, rose 5 percent to $8.55 billion.

© 2014 Thomson/Reuters. All rights reserved.

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