Amex Reports More Cards, Spending

With 2 million more cardmembers and 15 percent higher spending, American Express reported 11 percent higher third-quarter profit from continuing operations of $956 million on 12 percent higher revenues. Including results from operations it sold and Ameriprise Financial, spun off one year ago, Amex reported net income of $967 million, down 6 percent from the record $1 billion a year earlier.