American Express Co. reported sharply higher third-quarter...
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American Express Co. reported sharply higher third-quarter earnings as it benefited from a decline in expenses and a lack of hefty restructuring charges.
Net income for the three months ended Sept. 30 was $420 million, or 83 cents a share, up sharply from a loss of $205 million, or 45 cents a share, during the same period of 1992.
The per-share result exceeded analysts’ estimates of 71 cents a share, according to Zacks Investment Research Inc.
Revenue for the third quarter was $5.8 billion, up from $5.5 billion in the third quarter of 1992.
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