• 25/02/2024 20:24

Visa increased revenues by 8% thanks to the revival of purchases in the United States

Visa's profit grew by 8% amid a revival of card payments in the United States. Bloomberg writes about this.

 Visa increased revenues by 8% thanks to the revival of purchases in the United States

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According to last year's results, Visa exceeded Wall's expectations street, since against the backdrop of economic growth in the United States, users are more actively using credit cards to pay for purchases.

Thus, adjusted net profit for the first quarter of Visa’s fiscal year increased by 8% to $4.94 billion, or $2.41 per promotion, the payments giant said in a statement. That's 7 cents better than the average estimate of analysts surveyed by Bloomberg. Net income rose 9% to $8.63 billion, also beating expectations.

In the US, where Visa generates more than 40% of its revenue, GDP grew 3.3% year-on-year last quarter. This growth was accompanied by a recovery in consumer spending, which accounts for about two-thirds of the country's economy, as well as falling inflation, rising wages and unemployment near historic lows.

It is noted that Visa expects “double-digit” growth in the current fiscal year. income growth.

minfin.com.ua

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