American Express profit surpasses estimate on robust customer spending

American Express exceeded third-quarter profit expectations as increased card spending offset higher provisions for credit losses, which rose to $1.4 billion. Despite economic uncertainties, the company’s profit grew by 2%, reaching $2.51 billion, and per-share earnings surpassed forecasts. Shares rose 2% in pre-market trading, complementing an 8% revenue increase to $16.64 billion.