Finance
Visa Profit Surges 17% as Consumer Card Spending Climbs
- Worldwide payments volume and processed transactions both rose
- Firm sees low double-digit revenue growth in current quarter
In the US, where Visa gets more than 40% of its revenue, credit-card spending grew 6.2% from a year earlier.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Visa Inc. reported a quarterly profit that beat Wall Street predictions as US credit-card spending climbed.
Adjusted net income for the fiscal second quarter rose 17% to $5.1 billion, or $2.51 a share, Visa said Tuesday in a statement. That was 7 cents more than the average estimate of analysts in a Bloomberg survey.