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Visa shares slide despite solid travel-lead earnings, dividend boost

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Visa, the world's biggest credit card and payments company, said consumer spending continues to hold up well amid an ongoing boom in domestic and international travel.

shares moved lower in pre-market trading after the world's biggest credit card and payments company posted better-than-expected fourth quarter earnings thanks in part to the summer travel boom and resilient consumer spending.

Cross border spending volume was up 16%, Visa said, with payments volume up 10% on a constant-currency basis at $56 billion.saw September quarters profits rise 33% from last year to $3.30 per share, on revenues of $15.4 billion, and noted that travel demand and restaurant spending would likely remain firm into the end of the year.

Visa shares were marked 1.55% lower in pre-market trading to indicate a Wednesday opening bell price of $231.01 each , move that would trim most of the stock's gains over the past six months.

 

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