Visa Profit Rises 26% as Credit-Card Spending Accelerates
This article is for subscribers only.
Visa Inc., the world’s biggest payments network, posted a fiscal first-quarter profit that beat analysts’ estimates as consumer card purchases accelerated.
Net income for the three months ended Dec. 31 advanced 26 percent to $1.29 billion, or $1.93 a share, from $1.03 billion, or $1.49, a year earlier, the Foster City, California-based company said today in a statement. That beat the $1.79 average estimate of 32 analysts surveyed by Bloomberg.