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Visa, operator of the world's largest payment system, increased its net profit by 18% in the 1st fiscal quarter. Earnings were $2.977 billion, or $1.3 per share versus $2.522 billion or $1.07 per share over the earnings period last year. Visa increased revenues by 13% from 4.86 billion to more than $5.5 billion. Analysts had predicted revenue in the amount of $5.14 billion and earnings per share in the amount of $1.25. The company increased its operating expenses by 17% to $1.8 billion. At the end of the quarter, Visa handled 11% more transactions than last year and 7% more cross-border payments. This year, Visa expects revenue growth of 10%.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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