American Express 2010 Annual Report Download - page 10

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08
AMERICAN E XPRESS C OMPANY
TO OUR SHAREHOLDERS
Everyone likes
a comeback story.
Our company’s return to growth after
the recession was just that and
more. We earned $4.1 billion in 2010,
nearly double the amount from
a year earlier. Sharply higher spending
by cardmembers, even in these
budget-conscious times, and steadily
improving credit quality drove
our results. As we brought earnings back
to our pre-recession peak,
we also invested heavily in capabilities
and products that we expect
will serve us, and our customers, well
in the years ahead.