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Visa fourth-quarter profit rises 6% on higher fees

Credit: REUTERS/MAXIM ZMEYEV

Visa Inc reported a 6.3% rise in fourth-quarter profit on Thursday, helped by growth in overall customer spending, which boosted fees for the world's largest payment processor.

Oct 24 (Reuters) - Visa Inc V.N reported a 6.3% rise in fourth-quarter profit on Thursday, helped by growth in overall customer spending, which boosted fees for the world's largest payment processor.

The company's net income rose to $3.03 billion, or $1.34 per Class A share, in the quarter ended Sept. 30 from $2.85 billion, or $1.23 per Class A share, a year earlier. (https://bit.ly/32J3EDv)

Net revenue rose 13% to $6.14 billion.

(Reporting by C Nivedita and Ayanti Bera in Bengaluru; Editing by Maju Samuel)

((C.Nivedita@thomsonreuters.com; within the U.S. +1 646 223 8780, outside the U.S. +91 80 6749 9246;))

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