Visa Profit Pops As Consumers Choose Credit Over Cash — forbes.com

Visa Visa, the world’s largest credit and debit card company, is benefiting from an exodus away from cash and towards credit: the company reported higher than expected third quarter profit and revenue Thursday afternoon but saw its shares fall into negative territory as investors found room to fault the its forward guidance. Visa reported $3.16 billion in third quarter revenue, a 5% increase over the prior-year period and a hair above the $3.15 billion Street estimate. Net income came in at $1.4 billion, an 11% pop over the prior-year period that resulted in a per-share profit of $2.17, a figure that came in 7 cents higher than the analyst consensus.

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