© . Pedestrians walk past an American Express sign in New York
() – Credit card issuer American Express Co (N:) reported a nearly 40% slump in quarterly profit on Friday, hurt by lower spending by its users, while it also set aside $665 million for potential defaults.
Net income fell to $1.07 billion, or $1.30 per share, for the third quarter ended Sept. 30, from $1.76 billion, or $2.08 per share, a year earlier.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.