Visa credit and debit cards are seen in this picture illustration taken August 2, 2022.
REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsSummaryCompanies Cross-border volumes surge on steady travel demandStrong results signal consumer resilienceVisa Q4 adjusted EPS $2.33 beats estimate of $2.24Oct 24 (Reuters) - Card giant Visa (V.N) sailed past estimates for fourth-quarter profit on Tuesday as consumers on a post-pandemic travel rebound shrugged off worries of a looming economic slowdown and cost-of-living crisis.
Visa's CFO Chris Suh said U.S. inbound travel recovery accelerated in the quarter, while travel into Asia also continued to improve.
Visa's payment volumes rose 9% in the quarter, while cross-border volumes excluding transactions within Europe, a gauge of travel demand, surged 18%.
Visa posted adjusted profit of $2.33 per share in the three months ended Sept. 30, topping expectations of $2.24 per share, according to LSEG data.
Persons:
Benoit Tessier, Chris Suh, Suh, Michael Ashley Schulman, Logan Purk, Edward Jones, Manya Saini, Pooja Desai
Organizations:
REUTERS, Card, Running, Capital Advisors, Reuters, American Express, Visa, Thomson
Locations:
Asia, Europe, U.S, Bengaluru