Tag: $Visa

Visa (V) reported better-than-expected adjusted earnings and revenue for its fiscal first quarter, boosted by strong card user spending.

Sales for U.S. retailers have increased by about 4% so far this holiday season as Americans balanced tighter budgets with a desire to upgrade gadgets and refresh wardrobes, according to preliminary figures released by Visa (V) and Mastercard (MA) on Tuesday.

Visa (V.N), narrowly beat estimates for fourth-quarter profit on Tuesday and gave an upbeat forecast for its new fiscal year, as strong consumer spending in the U.S. drove card transaction volumes on the payments processing company’s network.

Visa reported a higher quarterly profit than a year ago, joining a string of big payments firms and banks whose latest earnings show solid spending patterns in the face of concerns that inflation is sticking around and the economy may slow.

Visa is partnering with fintech company Affirm to roll out a card in the U.S. that customers can use for both debit transactions and buy now, pay later purchases, reflecting the growing demand for flexibility in payment options.

Visa beat Wall Street expectations for fourth-quarter profit on Tuesday, as consumers set aside worries of a slowing economy and swiped their cards to splurge on travel and dining out, sending its shares up 2% in trading after the bell.

The US Justice Department plans to allege that Visa Inc. illegally monopolized the US debit card market, according to people familiar with the matter. The antitrust division is set to file a lawsuit as soon as Tuesday accusing the operator of the largest US payments network of a range of anticompetitive conduct.

Visa’s third-quarter revenue growth fell short of Wall Street targets in a rare miss for the world’s largest payments processor as steep borrowing costs limited consumer spending, sending its shares down 4.6% in extended trading.

Visa and Mastercard will extend caps on tourist card fees agreed five years ago with EU antitrust regulators by another five years to 2029, the European Commission said on Friday.

Visa the world’s biggest payments network, reported December quarter results that beat expectations and demonstrated consumer resilience. It reiterated its revenue and profit per-share forecast for this fiscal year.

Visa narrowly topped earnings estimates for its most recent quarter, driven by a continued postpandemic rebound in international travel.

A continued recovery in international travel—and spending—drove Visa to a better-than-expected quarter. The credit-card company’s earnings, disclosed Tuesday afternoon, beat Wall Street estimates but growth in payments volume slowed from recent quarters.

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