American Express Co reported on Thursday lower quarterly earnings as consumers spent less with their credit cards and credit losses rose.

Net income fell to $640 million, or 53 cents per share, from $815 million, or 70 cents per share, a year earlier, the largest U.S. credit card company by purchases said in a statement.

The third-quarter results included a $180 million non-recurring benefit associated with the company's accounting for a net investment in consolidated foreign subsidiaries

Excluding that benefit, American Express posted adjusted earnings from continuing operations of 44 cents per share.

Total revenue fell 16 percent to $6.0 billion.

American Express shares rose 13 cents to $36.57 in after-hours trading after closing at $36.44 on the New York Stock Exchange. The company is the biggest Dow component gainer so far in 2009.

(Reporting by Juan Lagorio; Editing by Steve Orlofsky)

American Express