American Express (NYSE:AXP) reported its latest quarterly earnings results after hours Wednesday, which yielded earnings that topped analysts’ expectations but shares fell as revenue missed the mark.

The credit card and financial services operator said that for its second quarter of its fiscal 2018, it brought in adjusted earnings of about $1.84 per share, ahead of the $1.82 per share that analysts were calling for, according to data compiled by Thomson Reuters. The company added that its expenses were up by 7% year-over-year to $7.1 billion due to “higher rewards expenses and costs associated with marketing and business development.”

Nevertheless, American Express’ operating expenses were down about 2% for the quarter compared to the year-ago period. The credit card operator brought in revenue of $10 billion for the period, missing the Wall Street consensus estimate of $10.05 billion, according to data compiled by Thomson Reuters.

Net income for the period surged to $1.62 billion from $1.34 billion, or $1.84 per share from $1.47 per share in the year-ago period. American Express added that its positive results were fueled by increased spending from consumers, small businesses and corporate Card Members.

Plus, the company saw higher loan volumes and fee income for the period. The payments provider reaffirmed its guidance for fiscal 2018 as earnings will be between $6.90 and $7.30 per share.

AXP stock fell about 2.9% on Wednesday after the bell following the company’s quarterly revenue miss. Shares were up about 1.8% during regular trading hours in anticipation of its quarterly earnings release.