American Express 2Q profit rises 9 percent

NEW YORK (AP) — American Express Co. (AXP) on Tuesday reported earnings that rose by 9 percent in its second quarter, and topped analysts' expectations.

The New York-based company said profit increased to $1.52 billion, or $1.43 per share, from $1.39 billion, or $1.27 per share, in the same quarter a year earlier.

The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of $1.38.

The company said revenue rose 5 percent to $8.66 billion from $8.25 billion in the same quarter a year earlier. Analysts expected $8.67 billion, according to Zacks.

American Express shares slipped 46 cents to $91.25 in after-hours trading. The stock closed down 15 cents at $91.71 in regular trading Tuesday.