AmEx revenue beats expectations on strong holiday spending
(Reuters) -American Express beat expectations for fourth-quarter revenue on Friday, as more consumers swiped its cards during the holiday season for travel and online shopping. Travel and entertainment spend was the strongest area, CFO Christophe Le Caillec told Reuters, adding that airline travel, in particular, did really well. Billed business, a measure of spending on AmEx cards, rose 8% to $408.4 billion in the quarter.