Economy · World
American Express reports profit rise amid increased spending
American Express announced a rise in its second-quarter profit, driven by increased customer spending and a decrease in loan delinquencies. Despite robust earnings and a positive revenue outlook, the company's shares experienced a decline, attributed by some reports to rising costs impacting market sentiment. The company reported higher total card spending and quarterly revenue.
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- Centre (6): Associated Press, Bloomberg, Business Standard, Mint, NDTV, Reuters