( dpa ) - American Express Co, the country's largest credit card company, reported Thursday an 11 per cent decline in first quarter profits amidst one of the worst financial crises in the US in decades.
Profits were 974 million dollars.
But the company's shares climbed more than 4 per cent in extended New York trading, as the decline was not as large as had been expected by analysts.
While other financial service companies have also suffered, American Express was buoyed by a 30 per cent rise in overseas profit to 133 million dollars as customers spent and borrowed more, Bloomberg financial news service reported.
Spending worldwide on charge and credit cards rose 14 per cent to 166.4 billion dollars, fueled by a 27 per cent rise in overseas purchases.