American Express Co. reported a 31% increase in first-quarter profit, driven by a pickup in card holder spending and borrowing. The company reported profit of $1.63 billion, or $1.86 a share. Revenue, net of interest expense, rose 12% to $9.72 billion. Analysts surveyed by FactSet had projected a profit of $1.71 a share on $9.13 billion in revenue.

Source: Wall Street Journal April 18, 2018 20:15 UTC