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The credit card lender and payment network louis vuitton outlet on Monday reported $7.3 billion of quarterly revenue net of interest expense, compared with $6.5 billion a year earlier.

American Express narrowly fell short of analyst estimates last week when it said it had earned $1.1 billion, or 88 cents per share, for the quarter. It also said it was cutting 550 customer service jobs.

The company said the increase in revenue resulted from an accounting change as well as increased spending on American Express cards.

Chief Executive Kenneth Chenault said in the earnings release that American Express customers increased their spending on their cards by 15 percent in the quarter. The company also benefited from fewer losses on soured loans.

"Unemployment levels and housing remain a concern, but other aspects of the economy continue to show signs of improvement," he said.