American Express Profit Jumps 28%
NEW YORK — American Express reported a 28% increase in third-quarter profit as affluent customers continued spending and higher annual card fees boosted revenue, but the financial services company also announced plans to eliminate approximately 3,500 jobs as part of a broader effort to reduce operating costs. The company reported net income of $3.71 billion, or $5.42 per share, compared with approximately $2.9 billion a year earlier. Excluding a one-time gain from the sale of its stake in Global Business […]