American Express Profit Up Sharply

American Express Co., the fourth-biggest U.S. credit card issuer, said quarterly profit more than doubled as customers charged more and expenses declined.

Net income in the fourth quarter climbed to $683 million, or 52 cents a share, from $297 million, or 22 cents, a year earlier, the firm said. Revenue rose 6% to $6.2 billion.

Shares of New York-based American Express slid 28 cents to $33.42 on the New York Stock Exchange.