Amex profits climb to beat tough market

first_img whatsapp Tags: NULL Amex profits climb to beat tough market Express KCS AMERICAN Express last night reported a six per cent rise in profit during the three months to 31 March, up to $1.53bn (£1.02bn) from $1.43bn.The rise in income came despite sales falling by three per cent from $8.17bn to $7.95bn. Kenneth Chenault, the firm’s chief executive and chairman said the 2015 first quarter of 2015 results showed “solid core performance and continued progress in expanding the American Express franchise”.He said the results reflected a period during which American Express was impacted by the strong dollar, an “uneven” global economy, and the renewal of several contracts that provide “lower initial economics than the prior agreements”.Looking ahead, Chenault said: “We expect full year 2015 earnings will be flat to modestly down year-over-year with the headwinds we’re facing and as we ramp up investments to help offset the impact from ending our relationship with Costco in the US next year.” Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat is ‘Ranked-Choice Voting,’ the New System for New York’s MayoralFamily Proof whatsapp Show Comments ▼ Share Thursday 16 April 2015 8:51 pmlast_img read more