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American Express fourth-quarter revenue rises 13%

American Express Co. (AXP-N) said fourth-quarter revenue grew 13 percent from a year earlier, as consumer spending increased and the company earned more from fees.

The credit card lender and payment network said Monday it had $7.3 billion US of total revenue net of interest expense in the quarter, compared with $6.5 billion a year earlier.

American Express narrowly missed analyst expectations last week when it said it had earned $1.1 billion, or 88 cents per share, for the quarter. It also said it was cutting 550 customer service jobs. CTV Two CTV News CTV News Channel BNN - Business News Network CP24