Revenue during the quarter dropped 4.42 percent to $7,316 million from $7,654 million in the previous year period. Net interest income for the quarter dropped 5.06 percent over the prior year period to $1,500 million. Non-interest income for the quarter fell 1.83 percent over the last year period to $6,389 million.

American Express Co has made provision of $573 million for loan losses during the quarter, up 32.03 percent from $434 million in the same period last year.

"Our first quarter performance marks a good start to the year with momentum in the consumer and commercial businesses in the U.S. and in key markets internationally," said Kenneth I. Chenault, chairman and chief executive officer. "The results reflect many of the investments we've been making to grow the business, plus continued progress in reducing operating expenses."

For financial year 2017, the company projects diluted earnings per share to be in the range of $5.60 to $5.80.

Deposits stood at $54,000 million as on Mar. 31, 2017, down 3.57 percent compared with $56,000 million on Mar. 31, 2016.

Investments were stable over the past one year at $4,000 million on Mar. 31, 2017. Shareholders equity was at $21,000 million as on Mar. 31, 2017.

At the same time, return on average equity increased 150 basis points to 25.10 percent in the quarter from 23.60 percent in the last year period.

Tier-1 leverage ratio was stable at 11.50 percent in the quarter, when compared with the last year period. Book value per share was $21.62 for the quarter, up 7.40 percent or $1.49 compared to $20.13 for the same period last year.