American Express Q2 Profit Rises Driven by Higher Spending and Fewer Delinquencies

American Express on Friday reported an 8% rise in second-quarter profits compared to last year.

Credit card giant American Express said its second-quarter profits rose 8% from a year earlier, helped by higher spending by its card members, fewer delinquencies and more customers signing up for its premium products like the Platinum Card and Gold Card.

The New York-based company said Friday it earned $3.11 billion, or $4.53 a share, compared to $2.89 billion, or $4.08 a share, in the same period a year earlier. The results beat analysts’ forecasts, who were looking for AmEx to earn a profit of $4.40 a share, according to FactSet.

AmEx continues to…

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