BUZZ-American Express rises after second-quarter profit beats estimates

Reuters
07-18
BUZZ-American Express rises after second-quarter profit beats estimates

** Shares of American Express AXP.N rise 0.5% to $317.20 in premarket

** AXP exceeds estimates for second-quarter profit, fueled by resilient spending by its affluent cardholders

** Excluding one-time items, AXP earns $4.08 per share for the three months ended June 30, compared with analysts' expectation of $3.89 - LSEG

** Total revenue rises 9% to $17.9 billion

** AXP boosts its provisions for credit losses to $1.4 billion, from $1.3 billion a year earlier

** As of last close, AXP up nearly 6% YTD

(Reporting by Pritam Biswas in Bengaluru)

((Pritam.Biswas@thomsonreuters.com))

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