American Express Reports 1Q2009 Financial Results
American Express has reported financial results for the first quarter of 2009 - including a decline in total revenues of 18% with income of $443 million. Amex reported US card spending of more than $63 billion and said it has $207 billion in open credit lines to consumers and small businesses. Merchant discount revenue also declined 18% with the average discount rate down slightly to 2.56%. Average cardholder spending declines 18% worldwide to $2,443.
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