American Express reports 40% slump in quarterly profit

In this news, we discuss the American Express reports 40% slump in quarterly profit.

(Reuters) – Credit card company American Express Co AXP.N on Friday announced a nearly 40% drop in quarterly profit, penalized by lower user spending, while setting aside $ 665 million dollars for potential faults.

Net income fell to $ 1.07 billion, or $ 1.30 per share, for the third quarter ended Sept. 30, from $ 1.76 billion, or $ 2.08 per share, a year earlier .

Report by Niket Nishant in Bengaluru; Edited by Arun Koyyur

Original © Thomson Reuters

      Bollyinside - Latest News and Reviews
      Enable registration in settings - general
      Compare items
      • Total (0)
      Compare
      0