Visa boss says earnings show consumer resilience

Visa Inc (NYSE:V) has cited “resilient consumer spending” as aiding an increase in revenue and net income over the first quarter. Reporting on Thursday, the card payment services giant said revenue had climbed 9% to US$8.6 billion during the three months to December compared to a year earlier. Net income increased by 17% to US$4.9 billion meanwhile, with earnings per share jumping by a fifth to US$2.39. “Consumer spending remained resilient,” chief executive Ryan McInerney commented, in spite of pressures o ...