Visa Profit Beats Estimates as Credit-Card Use Accelerates

July 27 (Bloomberg) -- Visa Inc., the world’s biggest payments network, said fiscal third-quarter profit rose 40 percent, beating analyst estimates for the 14th straight period, as consumers boosted credit card spending.

Net income for the three months ended June 30 climbed to $1 billion, or $1.43 a share, from $716 million, or 97 cents, in the same period a year earlier, the San Francisco-based company said today in a statement. Adjusted earnings per share, which exclude the revaluation of the firm’s Visa Europe Ltd. put option, was $1.26, three cents better than the average estimate of 30 analysts surveyed by Bloomberg.

Read full story

RESOURCES

• Credit Cards for Bad Credit
• Loans for People with Bad Credit