Visa Posts Record Profit on Higher Spending
January 30 2020 - 05:05PM
Dow Jones News
By Maria Armental
Visa Inc. reported record quarterly profit and a 10% revenue
increase, helped by higher spending.
Visa's first-quarter profit rose 10% to $3.27 billion, or $1.46
a Class A share, the company said Thursday. Net revenue rose 10% to
$6.05 billion.
Analysts surveyed by FactSet expected $1.46 a share on $6.08
billion.
Higher spending has helped credit-card companies post record
results. Mastercard Inc. and American Express Co. this month also
reported quarterly results that beat analysts' projections, though
Discover Financial Services' revenue results for the most recent
quarter fell slightly shy of targets.
The company still expects per-share profit to increase by a
mid-teen percentage and revenue to increase by a low double-digit
percentage.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
January 30, 2020 16:50 ET (21:50 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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