American Express Co., which specializes in travel services and credit cards, said Monday that its net income rose 17 percent in the third quarter on strong growth in its domestic and international card units, AP reported. Net income for the July-September period totaled $1.03 billion (¤860 million), or 82 cents a share, up from $879 million, or 69 cents a share, a year earlier. Excluding results from two units it spun off in the quarter _ its Minneapolis-based Ameriprise Financial Inc. advisory service and its tax and business services unit _ net income in the quarter was $865 million (¤724 million), up 22 percent from $702 million a year earlier. That translated to earnings of 69 cents per share in the third quarter, up from 55 cents a year earlier. In afternoon trading, American Express shares rose $1.39, or nearly 3 percent, to $48.54 on the New York Stock Exchange. Its shares have traded in a 52-week range of $37.94 to $51.48. American Express, which is headquartered in New York, said revenue for the quarter was $6.1 billion (¤5.1 billion), up from $5.5 billion a year earlier. The company also set aside $49 million (¤41 million) to cover costs associated with Hurricane Katrina, the storm that devastated the Gulf Coast on Aug. 29.
