Visa Beats Estimates as Global Credit-Card Spending Rises
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Visa Inc., the world’s biggest payments network, posted a fiscal third-quarter profit excluding legal costs that beat analysts’ estimates as card spending rose.
Adjusted net income for the three months ended June 30 climbed to $1.06 billion, or $1.56 a share, from $883 million, or $1.26, a year earlier, the San Francisco-based company said yesterday in a statement. The average estimate of 34 analysts surveyed by Bloomberg was $1.45 a share. The firm had a net loss of $1.84 billion when including a $4.1 billion provision tied to its settlement this month of a U.S. antitrust lawsuit.