American Express' second quarter earnings rose 9 per cent, in part due to a gain on the sale of half of its corporate travel business, in a quarter that also saw higher spending by card members.
American Express said card member spending rose 9 per cent, with a growth rate that accelerated from earlier in the year, with higher volumes in all of the company's US and international businesses.
American Express, which both issues plastic cards and owns a card-processing network, said revenue, net of interest expense, rose 5 per cent to $US8. 66 billion ($9. 23bn) from $8. 25bn a year earlier.
In June, American Express sold half of its corporate travel business to an investor group including Certares and Qatar's sovereign wealth fund.
Read more here: Business Spectator