21.04.2016 - American Express increased its revenue by 1.7%
American Express reported a profit in the first quarter of this year, which fell by 6.5%. The company's expenses rose by 6.0%. The competition in the card sector is enhanced and the company's performance was negatively affected by breaking of exclusive relationship with the retailer Costco Wholesale Corp. Among the positive news should note the increase in the number of new cards by 3 million and increase in the loan portfolio by 11%. As a result, the company's profit totaled 1.43 billion dollars against 1.53 billion in the same period last year. Revenue rose by 1.7% to 8.09 billion US dollars. We expect growth in the company's shares by 18-20% by the end of the year.