Jim Cramer Blog

American Express Co., the nation's third-largest credit-card brand, said Thursday heavier use of its cards by more customers helped drive first-quarter profit up 21 percent to a record $1.06 billion.

The quarterly profit was 87 cents per share, from $873 million, or 69 cents per share, a year ago.

Total revenue grew 14 percent to $7.63 billion from $6.72 billion last year. After interest expense, revenue totaled $6.67 billion, up 10 percent from $6.05 billion in the prior-year period.
Results surpassed Wall Street projections for earnings of 80 cents per share on $7.17 billion of revenue, according to analysts polled by Thomson Financial.

Labels: American Express Company, AXP