American Express did better than expected in the first quarter, rising to the title

© Reuters. AMERICAN EXPRESS DID BETTER THAN EXPECTED IN THE FIRST QUARTER, RISING TO THE TITLE

(Reuters) – American Express has released on Wednesday a quarterly profit above expectations, the u.s. issuer of credit cards that has benefited from the increase in household spending in a context of improved economic conditions in the United States.

In exchange after Exchange, the title American Express gained 3.6 per cent.

The group has also been said to anticipate from now on a net income per share annual in the top of its guidance range from 6.90 to-7,30 dollars.

American Express reported a net income of $ 1.63 billion (1.32 billion euros) for the first quarter, 1,86 dollar per share, compared to $ 1.25 billion ($1.35/share) a year earlier. The net sales grew 12% 9.46 billion over the period.

Analysts had expected average earnings per share of 1.71 dollar and a turnover of 9,46 billion, according to the consensus Thomson Reuters I/B/E/S.

American Express noted that the expenses of the holders of its cards had risen by 3% in the United States in the first quarter of 2018 and 7% across the world.

(Nikhil Subba and Pallavin Dewan in Bangalore, Benoît Van Overstraeten for the French service)