AmEx has spent heavily on rewards to lure customers as it faces more competition from banks like J.P. Morgan Chase and Citigroup.
Here are the results:
—EPS: $1.86, compared to an estimate of $1.71 from Thomson Reuters
—Revenue: $9.72 billion, compared to an estimate of $9.46 billion, according to Thomson Reuters
In January, former CEO Ken Chenault said AmEx will suspend its buyback program for the first half of the year to rebuild its capital because of an upfront charge triggered by the new tax law.
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