AmEx profits surge 13% as affluent customers splurge on luxury goods and travel

NEW YORK (AP) — American Express saw its profits grow 13% in the fourth quarter, as the credit card giant continues to benefit from its well-to-do clientele spending heavily on their cards on everything from luxury goods to restaurants to travel. The New York-based company said Friday it earned a profit of $2.46 billion, or $3.53 a share, compared to a profit of $2.17 billion, or $3.04 a share, in the same period a year earlier. The earnings were roughly in line with analysts' forecasts, according to Fact ...