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AmEx profit rises 10.7 percent


    (Reuters) - American Express Co , the world's largest credit card issuer, reported a 10.7 percent rise in fourth-quarter profit as customers in the United States spent more using its cards and the company earned higher net interest income.

    Net income rose to $1.45 billion, or $1.39 per share, for the fourth quarter ended Dec. 31, from $1.31 billion, or $1.21 per share, a year earlier.

    Total revenue, net of interest expense, rose 6.6 percent to $9.11 billion.

    The revenue increase included a pre-tax gain of $719 million on the sale of the company's investment in expense software maker Concur Technologies Inc, which Germany's SAP SE bought for about $7.3 billion in September.

    (Reporting by Avik Das in Bangalore; Editing by Simon Jennings)