Reported 3 days ago
American Express announced a 16% rise in third-quarter profits, reaching $2.9 billion, fueled by increased spending from affluent card members. The company's earnings per share improved to $4.14, surpassing analyst predictions. Despite raising the annual fee for its revamped Platinum Card to $895, demand remains strong, with 500,000 requests for the new design in just three weeks. American Express has lifted its full-year earnings forecast, anticipating a range of $15.20 to $15.50 per share.
Source: YAHOO