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Stock impact report

Visa Profit Climbs 17% as Consumer Credit-Card Spending Grows [BNN Bloomberg (Canada)]

Mastercard Incorporated (MA) 
Last mastercard incorporated earnings: 4/29 08:00 am Check Earnings Report
Company Research Source: BNN Bloomberg
Adjusted net income for the fiscal second quarter rose 17% to $5.1 billion, or $2.51 a share, Visa said Tuesday in a statement. That was 7 cents more than the average estimate of analysts in a Bloomberg survey. In the US, where Visa gets more than 40% of its revenue, credit-card spending grew 6.2% from a year earlier. Worldwide payments volume climbed 8% and total processed transactions rose 11%. “We remain focused on the trillions of dollars of opportunity in consumer payments and new flows and on continuing to deepen our partnerships with clients around the world,” Chief Executive Officer Ryan McInerney said in the statement. Shares of San Francisco-based Visa rose 2.9% to $281.91 in extended trading at 4:11 p.m. in New York. The stock had climbed 5.3% this year through the close of regular trading. In March, Visa and smaller rival Mastercard Inc. agreed to cap swipe fees and allow US merchants to charge consumers extra for using credit cards — a deal that retailers said wo Show less Read more
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