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AmEx raises 2016 profit forecast; shares up 5.8 percent
October 20, 2016 by admin · Leave a Comment
American Express Co raised its 2016 adjusted earnings forecast and reported better-than-expected third-quarter revenue on Wednesday, sending its shares up 5.8 percent in extended trading. The credit card issuer, which has historically catered to upscale consumers, said it plans to increase spending on digital marketing, a strategy that helped it add 1.7 million new card members in the United States this quarter and expand globally. Analysts on …
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AmEx raises 2016 profit forecast; shares up 5.8 percent