/ Source: Reuters
American Express Co. said on Monday fourth-quarter profits rose because of increased spending by consumers.
The New York company reported fourth-quarter earnings of $896 million, or 71 cents per share, compared with $763 million, or 59 cents per share, a year earlier.
Analysts had expected earnings of 70 cents a share, according to Reuters Estimates.
Revenue rose to $7.8 billion in the quarter, up 10 percent from $7 billion a year earlier, the company said.
Consolidated expenses totaled $6.6 billion, up 11 percent from $5.9 billion from a year earlier.
