Visa fourth-quarter profit jumps 33 percent

Visa fourth-quarter profit jumps 33 percent

(Reuters) - Visa Inc's quarterly profit surged 33 percent as the payments network processed more transactions, led by higher consumer spending and a strengthening U.S. economy.

Visa said on Wednesday total payments volumes jumped 11 percent, while the number of processed transactions rose 12 percent.

Net income rose to $2.85 billion or $1.23 per Class A share in the fourth quarter ended Sept. 30, from $2.14 billion or 90 cents per Class A share a year earlier. (http://bit.ly/2AqtikU)

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Sai Sachin Ravikumar)

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Updated Date: Oct 25, 2018 03:05 AM

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