American Express’ net income fell 9 per cent to $1.57-billion, or $2.07 per share, in the three-month ended Dec. 31
sailed past quarterly estimates, but warned that revenue growth would slow through this year as the pandemic-driven pent-up travel demand begins to ebb.
Still, the typically strong holiday season saw AmEx’s largely wealthy customers shrug off inflationary pressures to splurge on gifts, travel, and entertainment, helping sustain card member spending volumes. Net income fell 9 per cent to $1.57-billion, or $2.07 per share, in the three-month period ended Dec. 31, from $1.72-billion, or $2.18 apiece, in the year-ago period.The New York-based company’s total revenue excluding interest expense increased 17 per cent to $14.18-billion in the quarter.Your Globe
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