(AOF) – Payment methods specialist Visa reported higher than expected profits. In the first quarter, which ended in late December, its net profit rose 6% to $4.2 billion, or $1.99 per share. Excluding exceptional items, earnings per share came out at $2.18, beating the consensus of $2.01. Its revenue rose 12% to $7.9 billion, coming in just over 3% above consensus. They increased by 15% at constant exchange rates.
Payment volumes increased by 7%, supported by growth in cross-border payments: +31%. Transactions processed by Visa rose 12% to $52.5 billion.
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