Visa's third-quarter revenue saw an increase, driven by what the payments company described as resilient consumer and business spending. The company reported a profit of $5.63 billion, or $2.97 a share, up from $5.27 billion, or $2.69 a share, in the prior year.
Adjusted earnings per share reached $3.32, surpassing analyst expectations of $3.23 a share, according to Fact Set. Despite the positive financial results, Visa is also planning workforce reductions, intending to cut approximately 7% of its employees. This move comes as the company navigates significant shifts within the payments industry.
The company’s performance highlights continued consumer and business activity, even as it prepares for industry evolution through strategic workforce adjustments.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing