Visa Profit Tops Estimates as Customer Card Spending Climbs

  • Net income drops 76% to $412 million on Visa Europe purchase
  • Revenue increases 3.3% to $3.63 billion, matching estimates

Visa Inc., the world’s largest payments network, posted fiscal third-quarter profit that beat analysts’ estimates as customer card spending accelerated. The company said it will buy back as much as $5 billion of its shares.

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