(Reuters) – Visa Inc’s <V.N> quarterly profit surged 33 percent as the payments network processed more transactions, led by higher consumer spending and a strengthening U.S. economy.
Visa said on Wednesday total payments volumes jumped 11 percent, while the number of processed transactions rose 12 percent.
Net income rose to $2.85 billion (£2.2 billion) or $1.23 per Class A share in the fourth quarter ended Sept. 30, from $2.14 billion or 90 cents per Class A share a year earlier. (http://bit.ly/2AqtikU)
(Reporting by Diptendu Lahiri in Bengaluru; Editing by Sai Sachin Ravikumar)