Consolidated total revenues net of interest expense rose to $8.5 billion in the fourth quarter, from $8.1 billion a year ago, representing a 5 percent increase (6 percent when adjusted for foreign currency translations 3). The increase reflected higher Card Member spending and higher net interest income.Consolidated provisions for losses totaled $528 million, down 17 percent from $638 million a year ago. This decrease reflected lower net write offs and a modest reserve release this quarter, compared with a modest increase in reserves last year. Credit indicators improved further from historically strong levels reported in prior quarters.
American Express Fourth Quarter EPS Rises To $1.21 From $0.56 Last Year; Revenues And Loans Increase As Card Member Spending Ends Year On Strong Note; Credit Indicators Remain At Historical Lows; Operating Expenses Well Contained In The Quarter
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