A strong set of results from American Express has failed to impress shareholders, as worries over how an economic slowdown could impact the credit card giant mount.
On 20 October, AMEX reported record revenue, up 13% from a year earlier to $15.4bn, driven by vigorous consumer spending and a significant increase in net interest income, which more than compensated for sluggish growth in commercial spending. Both international and US consumer spending saw significant increases, with a 17% rise globally and a 10% uptick in the United States, while retail sales showed resilience in the face of economic uncertainties. Stock Spotlight: Political scrutiny likely to cast shadow over Exxon's $60bn merger with Pioneer The strong results beat market expe...
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