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American Express quarterly profit rises 6% on higher consumer spending

American Express quarterly profit rises 6% on higher consumer spending
FILE PHOTO: Credit cards of American Express are photographed in this illustration picture March 17, 2016. REUTERS/Kai Pfaffenbach/Illustration -
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Kai Pfaffenbach(Reuters)
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(Reuters) – Credit card issuer American Express Co <AXP.N> reported a 6% rise in third-quarter profit on Friday, as more people used cards to shop, pay bills and make big ticket purchases.

Net income rose to $1.76 billion (1.36 billion pounds), or $2.08 per share, in the quarter ended Sept. 30, from $1.65 billion, or $1.88 per share, a year earlier, the company said.

Total revenue, excluding interest expense, rose 8% to $11 billion.

Analysts had expected a profit of $2.03 per share, on revenue of $10.94 billion, according to IBES data from Refinitiv, but it was not immediately clear if the numbers were comparable.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shailesh Kuber)

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