Visa increases profits and revenues strongly

SAN FRANCISCO Visa’s quarterly results exceeded the average expectations of Wall Street pundits. The stock initially rose by around 1.5 percent in after-hours trading. Visa’s international business in particular posted strong growth as tourism and international travel recovered from the coronavirus pandemic. For example, hotel and flight bookings are often paid for by credit card.

Rival Mastercard had already presented its quarterly results on Thursday morning (local time). In the three months to the end of December, the financial group earned 2.5 billion dollars (2.3 billion euros), six percent more than a year ago. Revenue rose 12 percent to $5.8 billion. However, the growth forecast for this quarter disappointed investors.