(AOF) – Visa presented a better-than-expected quarterly performance. The credit card and payment group’s net income increased 8% to $4.9 billion for the fourth quarter ended at the end of September, or $2.39 per share. Adjusted earnings per share came in at $2.41, 7 cents better than the FactSet consensus. Revenue increased 9% to $8.6 billion, beating expectations: $8.55 billion.
Payment volumes increased by 8%, supported by the increase in cross-border payments: +16%. Transactions processed by Visa increased 9% to $57.5 billion.
Over the financial year, adjusted earnings per share are still expected to grow by 10% to 15%, including 15% to 20% in the second quarter.
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