American Express Net Gains 19% in 3rd Quarter
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American Express reported that net income for the third quarter rose 19% from the same period last year, with earnings rising in all major subsidiaries.
The diversified financial services company said it had a profit of $292.7 million in the three months ended Sept. 30. In the same period last year, American Express reported net income of $245.2 million.
Consolidated revenue totaled $3.55 billion, compared to $2.97 billion a year earlier.
Revenue rose 19% and profit grew by 16% in the company’s Travel Related Services unit, reflecting record charge card volume, record travelers check sales and productivity gains.
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