American Express Co. reported net income and revenue for the second quarter that exceeded analysts’ expectations, results largely helped by the company’s push into lending.

Total revenue net of interest expense was $8.3 billion, up 1% from a year prior. It was the first quarter of adjusted revenue growth since a year ago.

Still, second-quarter earnings fell 33% from last year as the card giant endured heavy competition from large banks and the loss of its 16-year exclusive relationship with Costco Wholesale Corp. Shares of AmEx, up 16% year to date, fell 1% to $85.93 after hours.

The firm, run by Chairman and Chief Executive Kenneth Chenault, posted net income of $1.3 billion, or $1.47 a share. Analysts polled by Thomson Reuters expected earnings of $1.43.

When removing the Costco balances that AmEx had for most of the second quarter last year, adjusted revenue grew by 8%, compared with 7% in the first quarter and 4% a year prior.