Visa earnings beat on higher customer spending

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Visa Inc beat analysts' estimates for quarterly earnings on Tuesday, as a robust economy encouraged customers to spend more and boosted fees for ...

REUTERS: Visa Inc beat analysts' estimates for quarterly earnings on Tuesday, as a robust economy encouraged customers to spend more and boosted fees for the world's largest payment processor.

Total payments volume rose 8.7per cent to US$2.23 trillion, on a constant dollar basis, with the United States - its largest market - accounting for about 8.8per cent of the total.Payments volume represents the dollar amount of purchases made with cards carrying Visa's branding.Net income rose to US$3.10 billion, or US$1.37 per Class A share, in the quarter ended June 30 from US$2.33 billion, or US$1 per Class A share, a year earlier.

On an adjusted basis, Visa earned US$1.37 per share, while analysts expected a profit of US$1.32 per share, according to Refinitiv data.Net revenue rose 11.5per cent to US$5.84 billion, while analysts had expected US$5.70 billion.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines