AmEx Profit Meets Estimates as Card-Spending Growth Slows
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American Express Co., the biggest credit-card issuer by purchases, reported a third-quarter profit that matched analysts’ estimates as card-spending growth slowed.
Net income rose 1.2 percent to $1.25 billion, or $1.09 a share, from $1.24 billion, or $1.03, a year earlier, the New York-based lender said yesterday in a statement. That met the average per-share estimate of 26 analysts surveyed by Bloomberg.