AMEX cardmember spending up 8% in Q4

|By:, SA News Editor

Revenue of $8.5B up 5% Y/Y. Provisions for losses of $528M off 17%.

Expenses of $6B off 7% Y/Y when adjusted for fx translations, but reflects some extraordinary charges a year ago.

ROE of 27.8% compares to 23.1% a year ago.

CEO Chenault notes cardmember spending in Q4 rose 8% despite mixed reports elsewhere about holiday action. U.S. card services net income of $864M vs. $423M a year ago.

AXP -0.8% AH

CC at 5 ET