Northern, WI 02/07/2013 (wallstreetpr) – In the last quarter of 2012, Visa Inc. (NYSE:V)’s profit escalated to 25 percent as consumers hit stores for the holidays, utilizing their credit and debit cards using Visa network. The payment processing company also explicates a program to buy back the stock, the company announced on Wednesday. Visa’s revenue from data processing, international transactions and services heightened from a year earlier in the October-December quarter, when consumers shoot up spending for the holidays.
In after-hours trading, Shares dropped from 52 cents to $160.30. The stock finished with a regular trading up $1.29 at $160.82. During the quarter, transactions availed over Visa Inc. (NYSE:V)’s network aggregated to $14.2 billion. While U.S. debit transactions chopped down to 4%, debit and credit card transactions overseas increased to 21%.
In the last quarter of 2012, Visa’s profit escalated to 25 percent as consumers hit stores for the holidays, utilizing their credit cards and debit cards using Visa network.
The payment processing company also explicates a program to buy back the stock, Visa made an announcement on Wednesday. Visa’s revenue from data processing, international transactions and services heightened from a year earlier in the October-December quarter, when consumers shoot up spending for the holidays.
In after-hours trading, Shares dropped from 52 cents to $160.30. The stock finished with a regular trading up $1.29 at $160.82.
During the quarter, transactions availed over the Visa network aggregated to $14.2 billion i.e. a 4% increase over the past year. While U.S. debit transactions chopped down to 4 percent, debit and credit card transactions overseas increased to 21 percent. Results provide a vague idea about how the consumers are spending.
From September the consumers increased their borrowing by $16 billion in November to a seasonally acclimatized record of $2.77 trillion. Americans added more debt to personal usage as they were busy buying cars and to attend school but adhered to less use of their credit card.
On Thursday, The Federal Reserve is expected to report figures for the month of December.The last three months which ended on Dec. 31, Visa noted a net income of $1.3 billion, or $1.93 per share. This has forced to compare the net income of $1.03 billion, $1.49 per share the previous year.
A tax profit representing 11 cents per share has been included in the Company’s latest results. Revenue escalated to nearly 12 percent comprising $2.85 billion. Analysts polled by Fact Set had forecast earnings of $1.79 per share on revenue of $2.82 billion.
The shares of Visa Inc. (NYSE:V) were down 1.98% and currently trading at $157.62.
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