American Express profit hurt by strong US dollar
NEW YORK – Credit card issuer American Express Co (AXP.N) reported a 5 percent fall in quarterly profit as a stronger dollar reduced revenue from markets outside the United States.
The company’s net income attributable to common shareholders declined to $1.44 billion, or $1.42 per share, in the second quarter ended June 30, from $1.52 billion, or $1.43 per share, a year earlier.
Total revenue, net of interest expense, fell 4 percent to $8.28 billion. – REUTERS