American Express has reported a net income of $1.47bn for the second quarter of 2015, a 3.6% decrease compared to $1.53bn for the same quarter of 2014.
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The company has reported that its total revenue net of interest expense decreased 4% to $8.3bn from $8.6bn in the corresponding quarter of 2014.
However, adjusted revenues were up by 5%, primarily reflecting higher card member spending and growth in the loan portfolio.
The US card services unit of American Express has recorded a net income of $886m, a rise of 15% compared to $770m in the prior year. Total revenues net of interest expense rose 6% to $4.7bn from $4.5bn a year earlier.
The company’s international card services unit reported net income of $125m, a surge of 62% from $77m in the second quarter of 2014. Total revenues net of interest expense fell 10% to $1.3bn from $1.4bn a year earlier.
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By GlobalDataAmerican Express chairman and CEO Kenneth Chenault said: "Disciplined expense control and a substantial return of capital to shareholders through share repurchases together with higher Card Member spending and loan volumes helped to mitigate the negative impact of a strong US dollar and the year-ago benefits from Global Business Travel, which now operates as a joint venture.
"Against the backdrop of an uneven global economy, Card Member spending grew 6%, adjusted for FX, with strong performance in most international regions. Our credit metrics remained at, or near, historically low levels."
