Visa Quarterly Profit Rises as International Travel Market Recovers
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Visa reported on the growth of net profit in the first quarter of the year by 17% year on year, to $ 4.3 billion. Earnings per share increased by 20%, to $ 2.03.
The growth of the company’s profit is associated with the recovery of the international tourism market after the pandemic. Thus, the volume of cross-border payments processed by Visa increased by 24% compared to the first quarter of last year. In total, the company processed 50.1 billion transactions, which is 12% more than in the same period in 2022. However, on a quarterly basis, this figure fell by 4.5%. Visa’s revenue grew 11% year-on-year to $8 billion in the quarter.
The company’s shares in over-the-counter trading after the publication of financial statements are growing by about 1%.
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