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AmEx’s Richer Rewards, Marketing Fuel Revenue After Costco Loss

  • Lender parted ways with largest co-brand partner last year
  • Excluding Costco, revenue climbed 6.2% from a year earlier
American Express Illustrations Ahead Of Earnings Figures
Photographer: Andrew Harrer/Bloomberg
Updated on

American Express Co. is showing there’s life beyond Costco.

The largest U.S. credit-card issuer by purchases led the Dow Jones Industrial Average higher Thursday after reporting surprisingly strong first-quarter revenue a day earlier -- evidence that sweeter rewards and a marketing campaign can help spur spending and blunt last year’s loss of a partnership with the warehouse retailer. AmEx shares rose 2.9 percent to $77.75 at 9:31 a.m. in New York, the most intraday since Dec. 7.