January 30, 2020 / 9:15 PM / 17 days ago

Visa quarterly profit rises 10% on strong holiday season spending

Jan 30 (Reuters) - Visa Inc reported a nearly 10% rise in quarterly profit on Thursday, as higher consumer spending during the holiday season boosted fees for the world's largest payment processor.

The company's net income rose to $3.27 billion, or $1.46 per Class A share, in the first quarter ended Dec. 31 from $2.98 billion, or $1.30 per Class A share, a year earlier.

Net revenue rose 10% to $6.05 billion. (Reporting by C Nivedita and Amal S in Bengaluru; Editing by Maju Samuel)

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