Leash on expenses helps AmEx counter muted user spending
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 — the biggest gain since September 2012 — 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.
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 — the biggest gain since September 2012 — 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.
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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 — the biggest gain since September 2012 — 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.
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 — the biggest gain since September 2012 — 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.
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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 — the biggest gain since September 2012 — 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.
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 — the biggest gain since September 2012 — 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.
Leash on expenses helps AmEx counter muted user spending
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 — the biggest gain since September 2012 — 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.
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 — the biggest gain since September 2012 — 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.
