American Express on an Express Growth

Strong results showed the fourth quarter for popular credit card giant American Express as consumers have been recorded to have increased their spending by 8%. The American company posted a net profit of 716 million dollars or 60 cents a share, from 240 million dollars or 21 cents per share a year earlier. Revenue remained virtually unchanged at 6.5 billion dollars; the results were better than forecasted by analysts for earnings of 57 cents per share and revenue 6,14 billion dollars. It is noteworthy that from the activities of credit cards in U.S. soil AmEx recorded profit of 365 million dollars in the fourth quarter of 2009 compared to profits of just 64 million dollars in the last quarter of 2008.