American company Visa Inc. increased its net profit in the 2nd fiscal quarter by 25.9 % due to higher volume of card payments payment system. Net profit in January-March 2014 was $ 1.6 billion , or $ 2.52 per share , compared with $ 1.27 billion , or $ 1.92 per share , for the same period a year earlier. Adjusted earnings per share were $ 2.20, it was 2 cents better than the average forecast of analysts surveyed by Bloomberg.
However, revenue fell short of Wall Street expectations , and Visa expects a slowdown of growth in the current quarter . Revenue increased by Visa 6.9% – to $ 3.16 billion at the expected $ 3.18 billion experts
Payments volume on Visa cards during the quarter increased by 12% , to $ 1.1 trillion , the amount of cross-border payments – by 8%. Total for the quarter , the company handled 15.4 billion card transactions , or 11% more than the year before .
Operating expenses rose Visa in January-March to 2% , to $ 1.1 billion , due to the cost of advertising and challenging stocks around the Winter Olympics in Sochi and the upcoming World Cup in Brazil.
In the current quarter, Visa expects revenue growth to weaken ” the middle of the first ten in percentage terms ” (5-7%) .
Visa also worsened the outlook for the current fiscal year , noting that its revenue growth in dollar terms will be 10-11 % rather than 10-13% ( “low double digits ” ) , as previously assumed .
Visa profit in the 2nd quarter of FY surpassed forecasts
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