American Express beats profit expectations as rewards program boosts spending GlobeBusiness
. Last year, it renewed partnership with Delta Air Lines Inc that brought in over a million customers over the past two years, the company said.The rewards program helped push quarterly card customer spending up 4 percent from a year ago.
AmEx also expects its marketing expenses to rise by $200 million in the year on Delta partnership, as it tries to combat stiff competition for customers from big rival banks, including JPMorgan Chase & Co and Citigroup Inc. Revenue was hurt by flat growth in its global merchant and network services unit, compared to a year ago, the company said.
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