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4/30, 10:11 PM (Source: TeleTrader)
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Chart for: Visa Inc.

Visa reports 7% increase in revenue to $5.98B in Q2

American financial services corporation Visa Inc. said on Thursday its fiscal second-quarter revenue landed at $5.98 billion, above expectations and 7% higher on the year.

According to the update, Visa's earnings per share amounted to $1.38 in the same period, up 6% compared to the year-ago quarter, while net income was reported at $3.08 billion. Regarding the coronavirus pandemic, Visa CEO Alfred F. Kelly, Jr. said: "Although the road ahead will likely be challenging for a number of quarters, our business model is resilient and our strategy to enable the movement of money globally is more relevant than ever."

Shares of Visa were down 0.32% to $178.15 in after-hours trading shortly after the release of the quarterly results.

Breaking the News / JC