American Express reports improved quarterly profits

American Express is the forth-largest credit card issuer in the United States and they have just come out with their quarterly reports.

The company has posted 11% improvement in their quarterly profits and the income from their continuing operations rose to $956 million or 78 cents a share, from $865 million, or 69 cents a share a year earlier.

American Express is growing at a faster pace compared to rivals including MasterCard. The company gained from a recent ruling, which enabled banks and other finance companies to begin issuing American Express cards.

The revenues of the company in the most recent quarter were $6.76 billion, up from $6.02 billion a year ago.