Reported 28 days ago
Visa's fourth-quarter profit exceeded expectations due to resilient consumer spending, particularly in travel and dining, despite concerns about the economy. The company's payments volume rose 8%, and shares climbed 2% following the announcement. While Visa anticipates strong growth into 2025, it faces challenges in the Asia-Pacific region and legal issues, including a recent lawsuit from the U.S. Justice Department claiming monopoly behavior in debit card markets. Visa plans to lay off around 1,400 employees by year-end.
Source: YAHOO