American Express Revenue Up 31% as Spending Remains Robust
American Express Co.
AXP 3.79%
said spending among its cardholders continued to strengthen in the recently ended quarter, despite concerns over rising prices and fears of a recession.The credit-card company said second-quarter revenue rose 31% as cardholder spending on travel and entertainment topped prepandemic levels in April and has continued to improve. “Travel and entertainment spending just exploded this quarter with all the pent-up demand,” American Express…