American Express Reports Quarter 1 Earnings Of $1.07

American Express Company (NYSE:AXP) announced its earnings for the first quarter of 2012 today. The company reported earnings per share of $1.07on revenue of $7.6 billion for the period leading up to March. Analysts expected a report of $1.01 per share earnings and revenue of about $7.47 billion. Figures from the same quarter a year ago showed revenue of $7.57 billion and earnings of $0.97 per share.

The credit card industry is very reliant on consumer spending which marks a large portion of their total revenue. Spending has appeared to...