American Express Co. said Monday that it earned $1.1 billion in the third quarter, 10% more than the year earlier.

Earnings per share of 90 cents were 5 cents ahead of the average analyst estimate.

Spending on the New York company's network rose 16%, to $162.5 billion, and card accounts grew 11%, to 84.7 million.

Total loss provisions of $982 million were 25% higher than the year before. In its U.S. business, provisions were up 44%, to $638 million. The company cited higher lending volume and a rebound in delinquency rates after changes in bankruptcy laws led to unusually low rates in 2006.

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