American Express revenue misses estimates

Credit card company American Express’ quarterly revenue came in below analysts’ expectations as card-member spending growth remained muted.

Card-member spending in the first quarter increased 7 per cent, adjusted for foreign currency translations. This was the fourth successive quarter of single-digit growth after nine quarters of double-digit growth.

via Business feed http://www.scmp.com/business/banking-finance/article/1217303/american-express-revenue-misses-estimates