Visa noted that quarterly revenue fell 23% amid a decrease in payments activity resulting from coronavirus-related shutdowns.
For the third quarter, Visa’s internet profits dropped to $2.37 billion, or $1.07 for every Class A share, from $3.ten billion, or $1.37 for every Class A share, a year earlier. Internet profits fell seventeen% to $4.eighty four billion.
Analysts had been anticipating earnings of $1.03 for every share on profits of $4.83 billion. It was Visa’s first year-about-year decrease in quarterly profits and modified internet profits since the organization went public in 2008 and turned the world’s biggest payment community.