Visa Inc (NYSE:V, ETR:3V64) shares ticked higher in pre-market trading on Wednesday after the payment card firm unveiled better than expected profit for the fourth quarter.
Per share earnings climbed by 17% to $2.65 over the three months to September, Visa reported on Tuesday evening, surpassing analysts’ estimates for $2.58.
This came on the back of a 12% increase in revenue to $9.6 billion, which again beat expectations, as processed transactions climbed by 10% to 61.5 billion.
For the full-year, revenue grew by 10% to $35.9 billion, while net income climbed by 12% to $20.4 billion and processed transactions increased 10% to 233.8 billion.
CEO Ryan McInerney highlighted “relatively stable growth in payments volume, cross-border volume and processed transactions” as driving figures over the fourth quarter.
“New flows and value-added services” saw “strong momentum” too, he added.
“We see tremendous opportunity ahead to grow our business, deliver for our clients and collectively shape the future of commerce.”
Shares climbed by 1.9% to $287.32 in pre-market trading.