American Express (AXP) was expected to report earnings of 86 cents a share on sales of $7.49 million for the second quarter

The company reported second quarter EPS of  $.88 vs $.76 last year.

Revenue net of interest expense was $7.13 billion vs $6.54 billion in the quarter last year.

Net income for the quarter also totaled $1.1 billion, up 12 percent from $945 million a year ago.

The company said: "Spending on American Express cards rose 15 percent and we added more than 2 million cards during the last three months.

Wall St. was not much impressed. The stock dropped about .5% after hours.

Douglas A. McIntyre