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AmEx Boosts Revenue and Outlook by Attracting Smaller Businesses

American Express Credit Card
Photographer: Andrew Harrer/Bloomberg

American Express Co.’s quest to be accepted everywhere from the corner bodega to the nail salon down the street is paying off.

AmEx, long known for pitching its card to a more-affluent market, boosted its forecast for profit for the year as it trimmed fees to attract smaller businesses. Discount revenue, a measure of fees charged to merchants, surged 8 percent to $6.2 billion, topping analyst estimates.