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Visa fourth-quarter profit rises 6% on higher fees

Visa fourth-quarter profit rises 6% on higher fees
FILE PHOTO: VISA credit cards are seen in this picture illustration taken June 9, 2016. REUTERS/Maxim Zmeyev/Illustration -
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MAXIM ZMEYEV(Reuters)
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(Reuters) – Visa Inc <V.N> reported a 6.3% rise in fourth-quarter profit on Thursday, helped by growth in overall customer spending, which boosted fees for the world’s largest payment processor.

The company’s net income rose to $3.03 billion (£2.36 billion), or $1.34 per Class A share, in the quarter ended Sept. 30 from $2.85 billion, or $1.23 per Class A share, a year earlier. (https://bit.ly/32J3EDv)

Net revenue rose 13% to $6.14 billion.

(Reporting by C Nivedita and Ayanti Bera in Bengaluru; Editing by Maju Samuel)

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