PROFIT LEAPS: American Express Co. first-quarter profit jumped 33 percent to $1.2 billion, or 97 cents per share.
MORE SPENDING: Card users spent $187.9 billion during the quarter, up 15 percent from a year ago.
FEWER DEFAULTS: Write-offs dropped to about $541 million during the quarter, about $500 million less than a year ago.
HIGHER EXPENSES: Expenses rose to $5.2 billion, up 19 percent from $4.36 billion last year. Amex said it expects that to drop in coming quarters.
BUYBACKS PLANNED: Amex said it will start share repurchases during the current quarter.