AmEx Q2 profits soar 39%

By Associated Press

Jul 21, 2024 12:08 am

NEW YORK — American Express said on Friday second-quarter profits jumped 39 percent as the credit card company benefited again from a broad increase in cardmember spending as well as more of its customers carrying a balance.

Profit reached $3.02 billion, compared to $2.17 billion in the same period a year ago. On a per-share basis, AmEx earned a profit of $4.15. Excluding one-time gains, AmEx earned $3.49 per share, handedly beating analyst's forecasts of $3.24 per share, according to FactSet.

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