/quotes/zigman/217470/quotes/nls/axpAXP-0.22%shares shot up nearly 4% on Thursday, as results signaled customers were spending despite an uncertain economy.
Credit-card spending was up 7.3% more than a year ago across all regions, said the firm.
“Despite an uncertain environment, we generated a healthy increase in revenues and stronger card member spending across all regions this quarter,” said CEO Kenneth Chenault.
Spending is up, despite the September jitters over debt ceiling and economic uncertainty, noted analysts.
American Express reported on Wednesday its net income rose 9%, beating analyst expectations. The firm reported net income was $1.4 billion for the third quarter, or $1.25 per share. Revenue was up 6% at $8.3 billion. Analysts had expected $1.25 a share on $8.58 billion in revenue, excluding items, according to estimates from FactSet.
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Despite concerns over the global economy, American Express Co.’s third-quarter results impressed analysts.
American Express /quotes/zigman/217470/quotes/nls/axpAXP-0.22%shares shot up nearly 4% on Thursday, as results signaled customers were spending despite an uncertain economy.
Credit-card spending was up 7.3% more than a year ago across all regions, said the firm.
“Despite an uncertain environment, we generated a healthy increase in revenues and stronger card member....