American Express Profit Doubles
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From Bloomberg News
American Express Co. said profit more than doubled from last year’s third quarter when the Sept. 11 terrorist attacks cut consumer spending and travel.
The credit card issuer said net income climbed to $687 million, or 52 cents a share, from $298 million, or 22 cents, from the year-earlier period. The results beat the 51-cent average forecast of analysts polled by Thomson First Call.
Shares of New York-based American Express rose $1.12, or 3.4%, to $34.25 on the New York Stock Exchange.
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