Net income from the quarter included a gain of
Consolidated total revenues net of interest expense rose to
Consolidated provisions for losses totaled
Consolidated expenses totaled
The business travel joint venture transaction gain, net of the offsets and incremental investments mentioned above, contributed approximately
The effective tax rate for the quarter was 34 percent, up from 30 percent a year ago, which reflected the resolution of certain prior years tax items.
The company s return on average equity (ROE) was 28.8 percent, up from 23.6 percent a year ago.
The strong underlying performance this quarter reflected a continuation of some familiar themes: higher Card Member spending, credit metrics at or near their historic lows, a modest increase in loan balances, continued success in containing operating expenses and a substantial return of capital to our investors through share repurchases, said
Card Member spending rose 9 percent from year ago levels, and overall the growth rate accelerated from earlier this year, with higher volumes across each of our businesses in the U.S. and internationally.
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