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American Express third-quarter profit jumps 22 percent

American Express third-quarter profit jumps 22 percent
FILE PHOTO: Pedestrians walk past an American Express sign in New York U.S., July 16, 2018. REUTERS/Lucas Jackson   -   Copyright  LUCAS JACKSON(Reuters)
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(Reuters) – American Express Co’s <AXP.N> third-quarter profit rose 21.7 percent, as a strengthening U.S. economy powered higher credit-card spending.

The credit-card issuer said on Thursday net income climbed to $1.65 billion in the three months ended Sept. 30 from $1.36 billion a year earlier. On a per-share basis, AmEx earned $1.88, compared with $1.51 in the prior-year quarter.

Revenue, net of interest expense, rose 9.2 percent to $10.14 billion.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Sai Sachin Ravikumar)

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