Visa quarterly profit jumps as consumer spending holds up
Net revenue climbed 13% to $12.1 billion as cross-border travel spending and payments volume rose, Visa said.
- On Tuesday, Visa reported a surge in fourth-quarter profit as customers increased spending on travel and dining, with net revenue jumping 13% to $12.1 billion in the quarter ended September 30.
- Resilient United States consumer spending underpinned the strong results, as cardholders swiped for shopping, travel, and dining despite persistent inflationary pressures throughout the year.
- The payment processor's net income reached $6 billion, or $3.19 per share, while the board approved a 16% increase in the quarterly cash dividend to $0.780 per share.
- Despite beating estimates, shares fell more than 1% in extended trading on Tuesday, while investors await quarterly earnings from rival Mastercard, set to report later this week.
- Visa expects fiscal 2027 net revenue growth in the low double-digit percentage, supported by its $2.4 billion acquisition of BioCatch to enhance security products against fraud and scams.
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Visa (NYSE:V) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Visa (NYSE:V - Get Free Report) announced its quarterly earnings data on Tuesday. The credit-card processor reported $3.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.44 by $0.04. Visa had a net margin of 50.78% and a return on equity of 67.68%. The firm had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.09 billion.
Visa results offer a perspective on the health of the American consumer, given the large volume of debit and credit transactions processed by the firm
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Visa Posts Strong Quarterly Profit as Consumer Spending Remains Resilient
Visa recorded a significant increase in fourth-quarter profit as consumers continued using their cards for travel, shopping and dining, highlighting the resilience of U.S. consumer ... The post Visa Posts Strong Quarterly Profit as Consumer Spending Remains Resilient first appeared on [your]NEWS.
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