Visa profit beats as payment volumes surge on travel demand

On a constant dollar basis, Visa's payment volumes surged 10%, while cross-border volumes - a key measure that tracks spending on cards beyond the country of issue - jumped 36%.

Excluding items, the world's largest payments processor reported a profit of $1.93 a share, beating estimates of $1.86, according to Refinitiv IBES data. Visa's net income was $3.9 billion, or $1.86 per share, for the quarter, compared with $3.6 billion, or $1.65 a share, a year earlier.

Net revenue rose 19% to $7.79 billion, while operating expenses jumped 20% to $2.7 billion.

(US.VISA)