American Express reports that its net income rose to $1.43 billion, or $1.33 per share, in the first three months of 2014, despite harsh winter weather keeping consumers indoors and away from stores.
The increase means AmEx’s net income climbed 12 percent in the first quarter, slightly outstripping analysts expected earning of $1.30 per share, though AmEx missed forecasted net revenues $8.35 billion, coming in at $8.2 billion instead.
Following the release of the earnings report, AmEx’s stock is down 60 cents to $86.80 in after-hours trading.
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