Revenues totaled $7.2 billion, up 12 percent from $6.4 billion a year ago. This growth reflects record spending on American Express cards, higher cardmember lending balances and increased travel sales. It also reflects increased revenue from higher client asset levels and stronger financial advisor sales. Consolidated expenses totaled $5.9 billion, up 11 percent from $5.4 billion a year ago. This increase reflects higher expenses for marketing, promotion, rewards and cardmember services, human resources and other operating expenses.
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