Visa's Quarterly Profit Rises 26 Percent

Visa, the world's largest credit and debit card company, reported a 26 percent rise in quarterly profit as consumers spent more using cards on its network. Visa and rival Mastercard have been helped by increasing consumer spending in the United States and a shift to plastic payments in emerging markets. Net income attributable to the company rose to $1.60 billion, or $2.52 per Class A share, from $1.27 billion, or $1.92 per Class A share, a year earlier.

Related Videos


  • Visa Quarterly Profit Rises 11 Percent On Card Growth

    Visa Inc, the world's largest credit and debit card company, reported an 11 percent rise in quarterly profit as more people around the world used plastic instead of cash to make purchases. Net income rose to $1.36 billion, or $2.17 per Class A share, in the third quarter ended June 30 from $1.23 billion, or $1.88 per Class A share, a year earlier.

  • Russian Minister Hopeful Of Solution For Visa, Mastercard

    Russian Finance Minister Anton Siluanov said on Thursday he was confident a "reasonable solution" would be found for Visa and Mastercard after the credit and debit card companies complained about tightened regulations in Russia. Visa and Mastercard have stopped serving several Russian banks because of U.S. sanctions and Russia has obliged them to pay a security deposit of 25 percent of their average daily turnover in Russia to the central bank once a quarter from July 1 - a move that the U.S.

  • The Threat From Europe for Visa, MasterCard and the Banks

    A decision by Europe's highest court could have big implications for the U.S. business of banks and credit card companies. Craig Wildfang, partner at Robins, Kaplan, Miller & Ciresi, explains why Visa, MasterCard and big banks like Citigroup, Bank of America and JPMorgan could see their U.S. fee business threatened. They have argued if the interchange fees on credit card transactions were lowered it would make it impossible for them to profit.

  • MasterCard Says Russia Will Have Impact on Full-Year Sales

    MasterCard shares are spiking after the company reported a double-digit rise in profits over the quarter. The credit card provider, the world's second-largest, said income rose 14 percent over the quarter, a result of customers increasingly relying on their cards to shop. However, even as consumer spending improves, the company warned of lower annual sales growth, partially due to tensions in Russia.

  • American Express Quarterly Profit Rises 8 Percent

    American Express, the world's largest credit card issuer, reported an 8.1 percent rise in quarterly profit as customers spent more using the company's credit cards. Net income rose to $1.48 billion, or $1.40 per share, in the third quarter ended Sept. 30 from $1.37 billion, or $1.25 per share, a year earlier. Total revenue, net of interest expense, remained nearly unchanged at $8.33 billion.

  • Apple's Threat to Visa, MasterCard, Citigroup and Bank of America

    Apple is teaming up with Visa, MasterCard and big banks like Bank of America, JPMorgan Chase, Citigroup and Wells Fargo for its Apple Pay service, but it isn't clear how long the technology giant will remain on the same team with all of these players. Craig Wildfang, partner at Robins, Kaplan, Miller & Ciresi, believes Apple may eventually represent a threat to these financial companies. Wildfang ought to know, having won a record $7.5 billion antitrust settlement over interchange fees.

  • Earnings Preview: Merck (MRK), Comcast (CMCSA), Time Warner (TWX), Mastercard (MA), Visa (V)

    Before the bell Wednesday, analysts forecast that pharmaceutical company Merck & Co., Inc. (NYSE: MRK) will announce decreased profits with earnings per share down 20 percent from a year ago. Analysts surveyed by Thomson Reuters are projecting Merck to report earnings of 79 cents per share, down from 99 cents a year ago. Although the Zachs consensus estimate for Comcast Corporation (Nasdaq: CMCSA) has fallen from 50 cents to earnings of 49 cents a share, it's still an increase of almost 9 percen

  • Wal-Mart Sues Visa for $5 Billion Over Credit Card Swipe Fees

    Wal-Mart is suing Visa for $5 billion for allegedly conspiring with banks to illegally fix and inflate credit card processing fees. Wal-Mart said Visa's swipe fees not only violate antitrust regulations, but have cost U.S. retailers and shoppers more than $350 billion. Visa and MasterCard reached a settlement with retailers in July 2012 in which they agreed to pay up to more than $7 billion and lower their fees. However, Wal-Mart, as well as Target and Amazon, opted out of the settlement.

  • Berkshire Profit Soars 41 Percent, Helped By Investment Gains

    Warren Buffett's Berkshire Hathaway Inc on Friday said second-quarter profit soared 41 percent, reflecting a substantial increase in investment gains and improved results in businesses not related to insurance. Net income rose to $6.4 billion, or $3,889 per Class A share, from $4.54 billion, or $2,763 per share, a year earlier. Quarterly operating profit rose 11 percent to $4.33 billion, or $2,634 per Class A share, from $3.92 billion, or $2,384 per share.

  • BlackRock's Second-Quarter Profit Rises 11 Percent

    BlackRock, the world's largest money manager, said on Wednesday that its second-quarter profit rose 11 percent, boosted by strong markets that helped drive flows into its products across asset classes. The New York-based asset manager reported net income of $808 million, or $4.72 per share, up from $729 million, or $4.19 per share, a year earlier.

  • Chevron Fourth-Quarter Profit Drops 32 Percent

    Chevron Corporation, the second-largest U.S. oil company, said on Friday its fourth-quarter profit dropped 32 percent as refining margins and production fell around the world. The company posted net income of $4.93 billion, or $2.57 per share, compared with $7.25 billion, or $3.70 per share, in the year-ago period. Oil and natural gas production fell 3.4 percent to 2.6 million barrels of oil equivalent per day in the quarter.

  • Wells Fargo Profit Rises 14 Percent As Costs Fall

    Wells Fargo & Co, the biggest U.S. mortgage lender, reported a 14 percent rise in first-quarter net profit as costs fell. The fourth-biggest U.S. bank said on Friday, net income applicable to common shareholders rose to $5.60 billion, or $1.05 per share, in the quarter ended March 31 from $4.93 billion, or 92 cents per share, a year earlier. According to Thomson Reuters I/B/E/S, analysts on average had expected Wells Fargo to earn 96 cents per share.

Other Advice Videos


  • Ramsey Pryor on Why to Avoid Giving Prescriptive Advice

    In Chapter 11 of 16 in his 2014 Capture Your Flag interview, product management executive Ramsey Pryor answers "How Have You Learned to Give Better Advice When People Ask You for Help?" With time, Pryor learns to give less prescriptive advice. He learns from his children to give advice is more to be a sounding board and help others make a decision rather than to make a decision for others. Pryor is a product management executive at IBM focused on cloud-based collaboration.

  • Rachel Lehmann-Haupt on Seeking Advice From Working Mom Friends

    In Chapter 17 of 17 in her 2014 Capture Your Flag interview, author and small business owner Rachel Lehmann-Haupt answers "At This Moment in Your Life, Where Are You Seeking Advice and Coaching?" Lehmann-Haupt shares how she gathers working mom friends she respects to help her shape next steps in her life as a working mom. She finds her friends understand her needs as someone trying to be a good mom and strike the right work-life balance in an aspiring career. Rachel Lehmann-Haupt is a writer.

  • Bryan Law on Seeking Advice to Make Better Decisions in Your 30s

    In Chapter 23 of 23 in his 2014 Capture Your Flag interview, business strategist Bryan Law answers "At This Point in Your Life, Where Are You Seeking Advice and Coaching?" Now in his thirties, Law shares how he gets advice from a network of people to make more informed decisions. From teacher mentors from Georgetown to an inspiring Angolan friend to his parents to his spouse, Law finds willing people to support him as he faces key life decisions.

  • Louise Langheier on Two Ways to Give Better Career Advice

    In Chapter 7 of 21 in her 2014 Capture Your Flag interview, social entrepreneur Louise Langheier answers "How Have You Learned to Give Better Advice When People Ask You For Help?" Langheier shares two ways she has learned to give better advice. The first is honing in on the specific question the person seeking advice is really trying to answer. The second is appreciating the learning experience that comes with being asked to give advice.

  • Rihanna's Creative Director Got Career Advice From a Horse

    Think of the best career advice you ever received. Who gave it to you? Your mom? Your mentor? Ahem, your favorite website? Well, Ciarra Pardo, best known as Rihanna's creative director, got her best advice ever from her horse.

  • Conrad Doucette on Giving Better Advice When Asked for Help

    In Chapter 17 of 17 in his 2013 Capture Your Flag interview, musician and digital strategist Conrad Doucette answers "How Have You Learned to Give Better Advice When People Ask You For Help?" Doucette puts himself in the shoes of the person asking for advice. In his younger years he would have dispensed advice based on his point of view rather than the perspective of the person asking for advice. Conrad Doucette is a Brooklyn musician and the drummer for the band Takka Takka.

  • Most Advisers Aren't Afraid of "Robo" Advice

    Online investment services aren't just for young clients and low-balance accounts; "robo" advice can help any wealth advisory firm grow, says Bernie Clark, the head of Schwab Adviser Services. "Robo" advice is complementary and an opportunity, Mr. Clark says.

  • The Making of Me: Life Advice from Successful and Inspiring Women

    5 remarkable women share their stories in Glamour’s new series, “The Making of Me.” Whether you’re starting over or starting your own business, trying to balance work and motherhood, or searching to uncover your true passion in live, you’ll find inspiration and advice as these women reveal their journey to becoming who they are today.