January 30, 2019 / 9:19 PM / 5 months ago

Visa Inc quarterly profit rise 18 percent

Jan 30 (Reuters) - Visa Inc on Wednesday reported an 18 percent rise in quarterly profit, as the payments network processed more transactions on the back of higher consumer spending and a strong U.S. economy.

Visa said total payments volumes jumped 11 percent, while the number of processed transactions rose 11 percent.

Net income at the world’s largest payment processor rose to $2.98 billion, or $1.30 per Class A share, in the first quarter ended Dec. 31, from $2.52 billion, or $1.07 cents per Class A share, a year earlier. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Arun Koyyur)

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