American Express Beats Q1 Earnings Forecasts Amid Strong Luxury Spending
American Express reported better-than-expected first-quarter earnings, fueled by increased spending on luxury goods and premium travel by its cardholders. The company also reaffirmed its full-year financial guidance.
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Amex cardholders are loading up on luxury goods and premium airfares, as spending growth picks up
American Express books 10% spending growth in the first quarter.
By Emily Bary
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