Provided by Dow Jones By Allison Prang Visa Inc. reported an increase in net revenue and earnings for its third quarter as payments volume went up in the quarter compared with a year ago. The company s net income was $2.58 billion, up from $2.37 billion the comparable period a year ago. Its earnings for its Class A common stock were $1.18 a share, up from $1.07 a share. Adjusted earnings were $1.49 a share. According to FactSet, analysts were expecting $1.34 a share. Net revenue was $6.13 billion, an increase of 27%. Analysts were expecting $5.86 billion. Payments volume, compared with a year ago, rose 39% on a nominal basis, while cross-border volume rose 59% on that same basis from a year earlier.
By Syndicated Content
By Michael Martina
WASHINGTON (Reuters) â A bipartisan Congressional panel blasted U.S.-based corporate sponsors of the 2022 Beijing Winter Olympics on Tuesday, including Coca-Cola, Visa Inc. and Airbnb, accusing them of putting profits ahead of accusations of genocide in China.
Republican Congressman Chris Smith told the Congressional-Executive Commission on China hearing that the sponsors needed to reconcile their âostensible commitment to human rightsâ with subsidizing an Olympics where the host country is âactively committing human rights abusesâ.
Smith asked each of the executives at the hearing â from Airbnb, Coca-Cola, Intel, Visa Inc and Procter & Gamble â whether the games should be relocated or postponed due to concerns over human rights violations. All of them declined to opine, or said they had no responsibility over site selection.
Wednesday, 28 Jul 2021 07:27 AM MYT
Visa reported a 34 per cent jump in third-quarter payment volumes on a constant dollar basis, while the number of transactions processed surged 39 per cent. Reuters pic
Follow us on Instagram and subscribe to our Telegram channel for the latest updates.
NEW YORK, July 28 ― Visa Inc beat estimates for quarterly profit yesterday as vaccinations and reopening of economies spurred people to spend more on travel and entertainment, boosting volumes for the world s largest payment processor.
Payment companies are seeing an uptick in volumes from the coronavirus-induced slump as economic stimulus and rising vaccinations take effect, with the rise of e-commerce during lockdowns also driving up transactions.
Investegate |Barclays Bank PLC Announcements | Barclays Bank PLC: Half-year Report investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
AFP
The International Olympic Committee on Tuesday said it had to “remain neutral” on global political issues in response to a request from the U.S. Congressional commission that asked it to postpone and relocate the 2022 Beijing Winter Games if China does not end its human rights abuses against Muslim Uyghurs in its Xinjiang Uyghur Autonomous Region.
The reply came in response to a letter that the bipartisan U.S. Congressional-Executive Commission on China (CECC) sent to IOC president Thomas Bach. The commission made the letter public on July 23.
“No Olympics should be held in a country whose government is committing genocide and crimes against humanity,” said the letter by the CECC, an independent agency of the U.S. government that monitors human rights and rule of law developments in China.