American Express Gears Up for Digital Growth

The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage. NEW YORK (Trefis) -- American Express posted 12% year-on-year increase in profits for Q4 as consumers continued to spend greater amounts on their AmEx cards even in the midst of economic uncertainty. For the quarter, the company reported net income of $1.2 billion compared to $1.1 billion last year as total revenue rose by 7% to $7.74 billion. A surge in card spending by customers, higher travel commissions and growth initiatives taken by the company, such as new prepaid cards, new card issuing partnerships worldwide and other collaborations in the digital commerce space, have aided the company's good quarterly performance.... Click to view a price quote on AXP. Click to research the Financial Services industry.

Weiter zum vollständigen Artikel bei "TheStreet.com"