Increase In Card Member Spending Boosts Amex Q1 Revenue, Company Eyes Steady Annual Growth

American Express Co’s (NYSE:AXP) first-quarter revenue (net of interest expense) grew 11% year-on-year to $15.80 billion, marginally beating the consensus of $15.79 billion. The increase was primarily due to higher net interest income and increased Card Member spending. EPS of $3.33 beat the consensus of $2.95. Card Member spending or Billed Business grew 6% Y/Y to $367 million. Also Read: Mastercard Set to Increase Credit Card Fees, Adding Millions in Costs for Retailers After Visa Settlement U

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