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BREAKING NEWS

Visa fourth-quarter profit jumps 33 percent

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Visa fourth-quarter profit jumps 33 percent

Visa fourth-quarter profit jumps 33 percent
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(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)

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