American Express Beats Street as Cardmembers Spent More

It appears that more and more people were paying with their Amex cards in the latest quarter as profits at the credit card company grew 10% from 2013.
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It appears that more and more people were paying with their Amex cards in the latest quarter. The global credit card provider saw its profits grow again in the second quarter. Profit came in at $1.43 a share. That's better than estimates and more than 10% better than a year ago. Revenue rose about 5% to almost $8.7 billion, which is exactly what analysts were expecting. U.S. consumers have been spending more in light of the economic recovery. For American Express, it continues to attract an affluent crowd and targets credit card users who make six figures or above annually. American Express has less than 2% of world's plastic users, but it earns more than Visa and MasterCard combined. TheStreet's Julia Sun reports from New York.