American Express says third-quarter revenue rose 13% to $15.4 billion.
Consumers keep shopping and traveling and that translated to American Express announcing its sixth consecutive quarter of record revenue Friday.Revenue at American Express climbed 13% from the year-ago quarter to $15.4 billion, which was in-line with estimates of analysts surveyed by FactSet. Profit topped expectations growing 30% to $2.45 billion, amounting to earnings of $3.30 a share, another record for American Express. Analysts had been projecting that Amex would earn $2.95 a share.
American Express noted that households and businesses have not lost their propensity to spend on going out with travel and entertainment expenditures climbing 13%, helped in large part by restaurant spending.
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