Visa Inc reported a rise in quarterly profit on Tuesday as global vaccination drives gathered pace, fueling consumer spending and boosting volumes for the world’s largest payment processor.
Payment companies are seeing an uptick in volumes from the coronavirus-induced slump as massive government stimulus and speedy vaccine rollouts fuel an economic recovery, unleashing pent-up demand for both goods and services.
Payment volumes at Visa jumped 34% on a constant dollar basis in the third quarter ended June 30 from a year earlier.
Net income rose to $2.58 billion, or $1.18 per Class A share, from $2.37 billion, or $1.07 per Class A share.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Read all the Latest News, Breaking News and Coronavirus News here.
Comments
0 comment