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Visa 2Q profits fall 2%, as economic slowdown hits payments

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NEW YORK – Visa Inc.'s fiscal second-quarter profits fell 2% from a year earlier, as the company dealt with a slowdown across its payment network due to the global pandemic.

The payment processing giant said Tuesday that it earned $3.03 billion in its second quarter ended March 31, or $1.38 a share, down from $3.08 billion in the same period a year ago.

Due to Visa buying back its own stock, the company's earnings per share last year was also $1.38. The results were better than the $1.27 per share that analysts expected on average, according to FactSet.

Shares rose 1.8% in after-hours trading. Due to the nature of Visa's business model and how the company reports revenue, this quarter's results are more difficult to compare than previous

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United States
Cases: 46 252 513
Deaths: 750 423
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India
India
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Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
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Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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