American Express Reports 18% Increase in Discount Revenues
American Express has reported second quarter financial results including an 18% increase in card-related discount revenues.
"Our record results this quarter reflected outstanding growth in cardmember spending among consumers, small businesses, corporations and on cards issued on our network by bank partners," said Kenneth I. Chenault, Chairman and CEO. "Continued investments in the card business helped us to capitalize on competitive opportunities and generated broad increases in the retail, everyday spending, travel and entertainment sectors of the market."
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