Americans Spend Again and American Express Profits Soar

Spending on restaurants, stores, and entertainment venues has increased in the United States as vaccines become more common and revenue increases for the financial services company. American Express during the second semester.

The company said on Friday that momentum accelerated as the quarter progressed, particularly spending from younger customers.

“We saw card member spending accelerating from the previous quarter and exceeding pre-pandemic levels in June, with most of this spending growth coming from Millennial and Generation Z customers and small business customers,” Stephen Squire, President and CEO Stephen Squire said in a report.

Net interest expense income rose to $10.24 billion from $7.68 billion last year, surpassing the $9.47 billion Wall Street was looking for, according to a survey by Zacks Investment Research.

Actions American Express The company’s stock rose 3.4% at the opening bell on Wall Street.

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