American Express first-quarter profit up 2 percent

April 17 Wed Apr 17, 2013 4:12pm EDT

April 17 (Reuters) - Credit card company American Express Co's first-quarter profit rose 2 percent as card member spending remained muted amid increased corporate cutbacks.

American Express profit rose to $1.28 billion, or $1.15 per share, for the quarter ended March 31, from $1.26 billion, or $1.07 per share, a year earlier.

Total revenue, net of interest expense, rose 4 percent to $7.88 billion.

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