American Express net rises 9.3%

American Express third-quarter profit rose 9.3% as customers continued to spend more on their cards despite continued uncertainty in the global economy

AmEx said spending by its credit-card customers rose 7.3% to $236.2 billion, reflecting stronger spending across all regions

The New York card company caters to the affluent and its results are typically a closely watched barometer of consumer sentiment

The company's focus on customers with strong credit histories who use their cards frequently helped it bounce back from the recession more quickly than its peers, and it now has among the lowest delinquency rates and loan losses in the credit-card industry

AmEx reported a profit of $1.37 billion, or $1.25 a share, up from $1.25 billion, or $1.09 a share, a year earlier

Revenue, net of interest expense, rose 5.6% to $8.3 billion

Analysts polled by Thomson Reuters had recently estimated the company would earn $1.22 a share on revenue of $8.19 billion

Net interest income rose 8.6%

Expenses rose 5.3%

AmEx's provision for losses was $492 million in the quarter, up from $479 million a year earlier and down from $593 million in the previous quarter

The company's U.S. card business reported earnings of $782 million, up 12% from $699 million a year earlier

By Anna Prior