News Summary: American Express earnings inch up

AP News
Posted: Jul 18, 2012 6:13 PM

EARNINGS EDGE UP: American Express reported a 1 percent increase in earnings in the second quarter as its affluent customers pulled back a bit on their spending.

BEATS THE STREET: The earnings per share of $1.15 were ahead of the $1.10 per share analysts had been expecting, according to FactSet.

CURRENCY HIT: Amex's earnings were affected by the stronger dollar. International revenue fell 4 percent to $1.3 billion.