American Express Shows Broad Improvement in Profit
The American Express Company's earnings continued to rebound in the second quarter, largely because of lower costs. The company's revenues remained essentially flat. The financial services giant said yesterday that it had earned $416 million for the second quarter, up 34 percent from $310 million for the comparable period a year earlier and up 71 percent from $243 million for the first quarter of this year. Operating income increased even more sharply from last year because net income for the second quarter of 1992 included $41 million in net gains from special items.
