Comprised of global corporate payments and global business travel, Amex's Global Commercial Services division generated second-quarter net income of $226 million, up 3 percent year over year. Adjusted for foreign currency exchanges, GCS billed business grew by 5 percent, the smallest rate of growth among the company's four main divisions. GCS total revenues net of interest expense rose 1 percent to $1.2 billion, primarily due to higher cardholder spending that was "partially offset by lower business travel commissions and fees," according to Amex. Total expenses decreased 4 percent to $853 million, which "reflected lower salaries and employee benefits and other operating expenses." Overall, Amex companywide billed business during the second quarter grew 7 percent to $237.7 billion, while cards in force and average basic cardholder spending each increased 4 percent. The company's quarterly net income improved by 5 percent to $1.4 billion. Get the full story at Business Travel News