Visa's profit climbs 9% on growth in consumer card spending [BNN Bloomberg (Canada)]
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Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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Source: BNN Bloomberg
Adjusted net income for the fiscal third quarter rose 9% to US$4.9 billion, or $2.51 a share, the company said Tuesday in a statement. That was 8 cents more than the $2.43 average estimate of analysts surveyed by Bloomberg. Net revenue was $8.9 billion, shy of the $8.96 billion that Wall Street expected. Worldwide card spending climbed 4.9% in the quarter ended June 30 compared with a year earlier. In the US, where Visa gets roughly 40% of its revenue, spending advanced 5.1%. US retail sales, excluding motor vehicles, rose last month by the most in three months, a sign that the economy is still holding up as the Federal Reserve gets closer to cutting interest rates. “During the quarter, we expanded our partnerships with many clients around the world and announced several new innovations that will help drive the future of commerce,” Chief Executive Officer Ryan McInerney said in the statement. Shares of San Francisco-based Visa fell 2.6% to $258 in extended trading at 4:12 p.m.
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Sec Filings
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- 9/3/24 - Form FWP
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