New York, April 26, (dpa/GNA) – Visa on Tuesday reported quarterly earnings of $4.3 billion, marking a 17% rise over the same period a year ago, boosted high-spending credit card customers.
Total revenues increased by 11% to $8 billion in the payments processor’s second fiscal quarter ending in March, beating analysts’ expectations and sending company shares up 2% in after-hours trading.
Consumer spending was resilient despite high inflation and economic worries, with payment volumes growing by 10% in the quarter.
Cross-border volume excluding transactions within Europe increased 32%.
“While there is macroeconomic uncertainty, I feel confident in Visa’s ability to manage through changing environments,” Visa boss Ryan McInerney said in the earnings statement.
GNA