By Allison Prang
Visa Inc. reported a drop in cross-border volume, but revenue and adjusted earnings were higher than Wall Street was expecting.
Visa said earnings were $2.14 billion, down 29% from a year earlier. Earnings were 97 cents a share.
Adjusted earnings were $1.12 a share. According to FactSet, analysts were expecting $1.09 a share.
Revenue was $5.1 billion, down 17%. Analysts were expecting $5 billion. International transaction revenues slipped 38%.
Cross-border volume fell 29% on a constant-dollar basis.
Write to Allison Prang at email@example.com
(END) Dow Jones Newswires