American Express Co. on Monday reported record earnings of $578 million for the second quarter, up 11% from a year earlier. Earnings per share of $1.24 beat the First Call Corp. analyst consensus by 2 cents.
Earnings at Travel Related Services, its card business unit, were up 18%, to $360 million. The unit's revenues were up 8%, reflecting higher billed business, which was up 11% in the United States and 4% internationally, the company said. Average spending per customer was up 7%, to $1,717.