Visa Posts 3Q Revenue, Payments Volume Growth
By Sabela Ojea
Visa said revenue rose further in its fiscal third quarter as it continues to see higher payments and cross-border volumes.
The credit-card company on Tuesday posted a net profit of $4.91 billion, or $2.40 a share, compared with $4.2 billion, or $2.00 a share, for the same period a year earlier.
Stripping out one-time items, earnings per share came in at $2.42, in line with analysts expectations, according to FactSet.
Revenue climbed 10% to $8.9 billion, missing the $8.92 billion expected by Wall Street.
Visa said payments volume rose 7%, with cross-border volume up 14% and processed transactions increasing 10%.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
July 23, 2024 16:42 ET (20:42 GMT)
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