Business Standard

Visa beats quarterly profit estimates on travel, online spending boom

Total cross-border volume rose 38% on a constant dollar basis from a year earlier

visa
Premium

Reuters
Visa Inc reported a rise in quarterly profit on Tuesday, as the world's largest payment processor benefited from a pickup in travel with economies reopening worldwide and more people shopping online.

Total cross-border volume rose 38% on a constant dollar basis from a year earlier.

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.

Net income rose to $3.58 billion, or $1.65 per Class A share, for the fourth quarter ended Sept. 30, from $2.14 billion, or

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 27 2021 | 3:09 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com