Visa Beats Profit Estimates, Plans $25 Billion Stock Buyback
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Visa Inc.’s quarterly profit beat Wall Street estimates as consumer card spending climbed, and the world’s biggest payments network announced a new $25 billion stock-repurchase plan.
Net income totaled $4.7 billion, or $2.27 a share, in the fiscal fourth quarter ended Sept. 30, the San Francisco-based company said Tuesday in a statement. That topped the $2.23 average estimate of analysts surveyed by Bloomberg. Payments volume climbed 8.7% to $3.2 trillion.