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Visa Profit Beats Estimates as Card Spending Rises

Visa Inc., the world’s biggest payments network, posted a fiscal second-quarter profit that beat analysts’ estimates as consumer spending on credit and debit cards climbed.

Net income for the three months ended March 31 fell 1.7 percent to $1.27 billion, or $1.92 a share, from $1.29 billion, or $1.91, a year earlier, when there were more shares outstanding, the Foster City, California-based company said today in a statement. That beat the $1.81 average estimate of 32 analysts surveyed by Bloomberg. Net income a year earlier was helped by a one-time tax-related gain of $208 million.