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American Express Profit Rises on Premium Customer Strength
American Express reported a higher first-quarter profit, surpassing analyst expectations, driven by the continued strength of its premium customer segment. The company’s net income rose to $2.97 billion, or $4.28 per share, compared to $2.58 billion, or $3.64 per share, in the previous year. American Express also reaffirmed its full-year guidance for revenue growth and earnings per share.