American Express Beats First-Quarter Profit Estimates

American Express Co., the biggest U.S. credit-card company by purchases, beat analysts’ profit estimates and said that it intends to repay the government’s rescue-fund investment. The bank rose in late New York trading.

Profit from continuing operations in the first quarter declined 58 percent to $443 million, or 32 cents a share, from $1 billion, or 89 cents, a year earlier as consumers defaulted on more loans, the New York-based company said today in a statement. Results beat the 13-cent average estimate of 20 analysts surveyed by Bloomberg...

Bloomberg: American Express Beats First-Quarter Profit Estimates