Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

Visa earnings beat on higher customer spending

Visa earnings beat on higher customer spending
FILE PHOTO: VISA credit cards are seen in this picture illustration taken June 9, 2016. REUTERS/Maxim Zmeyev/Illustration/File Photo GLOBAL BUSINESS WEEK AHEAD -
Copyright
MAXIM ZMEYEV(Reuters)
Euronews logo
Text size Aa Aa

(Reuters) – Visa Inc <V.N> 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 8.7% to $2.23 trillion (1.79 trillion pounds), on a constant dollar basis, with the United States – its largest market – accounting for about 8.8% of the total.

Payments volume represents the dollar amount of purchases made with cards carrying Visa’s branding.

The number of transactions processed rose 11.7% to $35.43 billion.

Net income rose to $3.10 billion, or $1.37 per Class A share, in the quarter ended June 30 from $2.33 billion, or $1 per Class A share, a year earlier. (https://bit.ly/32LPG4m)

On an adjusted basis, Visa earned $1.37 per share, while analysts expected a profit of $1.32 per share, according to Refinitiv data.

Net revenue rose 11.5% to $5.84 billion, while analysts had expected $5.70 billion.

(Reporting by C Nivedita in Bengaluru; Editing by Bernard Orr and Anil D’Silva)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.