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Kenneth Chenault

Leash on expenses helps AmEx counter muted user spending

American Express Co's quarterly profit beat analysts' average estimate as a tighter control on expenses helped make up for slower growth in consumer spending in its key U.S. market.The world's biggest credit card issuer said an unusually severe winter caused billed business in the United States to rise 6 percent in the first quarter, lower than the 9 percent growth in the preceding quarter.However, Chief Financial Officer Jeff Campbell said on a post-earnings conference call that the business had grown through the second half of the quarter as the weather improved.U.S. retail sales increased 1.1 percent in March ÛÛÛ the biggest gain since September 2012 ÛÛÛ in a sign that the economy is bouncing back after the severe winter."While consumers remain cautious about taking on additional debt, we continued to see a modest increase in card member loan balances" CEO Kenneth Chenault said in a statement.For a graphic on the company's U.S. billed business growth over the past four years, click ...

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  1. AmEx Posts Mixed 1Q Results

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  2. AmEx Doubles 4Q Profit, EPS Misses

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  5. American Express Chief Financial Officer to Step Down

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  6. American Express CFO Daniel Henry to Retire

    American Express Co (NYSE:AXP) said Chief Financial Officer Daniel Henry will retire as soon as a replacement is found, a process that could take "a couple of months...

  7. American Express CFO Daniel Henry to retire

    American Express Co said Chief Financial Officer Daniel Henry will retire as soon as a replacement is found, a process that could take "a couple of months.""With our...

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Source: Kenneth Chenault on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL
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