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AmEx first-quarter profit falls 5 pct

Reuters

April 18 () - Credit card issuer American Express Co said on Thursday its quarterly profit fell 5 percent, as it spent more on its rewards program.

The company said net income fell to $1.55 billion, or $1.80 per share, in the first quarter ended March 31, from $1.63 billion, or $1.86 per share, a year earlier (graphic).

Total revenue, excluding interest expense, rose 7 percent to $10.36 billion.


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Reuters

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