AMEX Bests Estimates

American Express ($AXP@US) released its earnings, showcasing a 4th straight quarter where it bested analysts’ estimates. Net income for the firm came to $2.27 per share, up 70% from last year. The company notes that increased spending and an economic recovery are helping lift its bottom line—especially spending on travel and entertainment as those industries continue to reopen. AMEX also released $393 million in reserves, further pointing to a positive credit outlook. AMEX stock rose 2% in early trading and may open at a record high on Friday.