News: American Expressâ€™ card free revenue increases at par from expectations, rise in shares
According to the American Express' reports on the fourth-quarter results, the company's cardless revenue shoots up to $11.365 Billion than the expected $11.36 by the analysts. The company's shares have risen up to 2.4% in premarket trading, with around 11.6 million new proprietary cards that were added last year.
American Express CEO Stephen Squeri said in a statement, "These results demonstrate the success of our strategy to generate sustainable, profitable growth across the enterprise over the long term". The company's shares have reportedly surged up to more than 31% over the past 12 months.