American Express reports fourth-quarter profit

An American Express credit card is seen on a computer keyboard in this picture illustration taken September 6, 2017. REUTERS/Philippe Wojazer

(Reuters) – American Express Co (AXP.N) reported a fourth-quarter profit compared to a loss in the same quarter a year ago, when the company took a charge of $2.6 billion due to a change in U.S. tax laws.

The credit-card issuer said on Thursday net income was $2.01 billion in the three months ended Dec. 31, compared with a loss of $1.21 billion a year earlier. On a per-share basis, AmEx earned $2.32, compared with a loss of $1.42 in the prior-year quarter.

Revenue, net of interest expense, rose 7.9 percent to $10.47 billion.

Reporting by Diptendu Lahiri in Bengaluru; Editing by Maju Samuel

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