American Express Co., the largest U.S. credit-card issuer by purchases, posted third-quarter profit that beat analysts’ estimates and raised its full-year forecast for profitability.

Net income fell 9.8 percent to $1.14 billion, or $1.20 a share, from $1.27 billion, or $1.24, a year earlier, the New York-based company said Wednesday in a statement. Adjusted profit, which excludes some items, was $1.24 a share, topping the 96-cent average estimate of 23 analysts surveyed by Bloomberg.

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