Increased profits, declining shares for Visa

Visa, the world's largest credit card provider significantly increased its profits, at the end of the quarter ended in June, but its shares have fallen.

The California-based company announced that its net profit on a year on year comparision increased by 11 percent to 1.36 billion USD (312 billion HUF), ie. 2.12 USD per share in the 3rd business quarter. Its revenues increased by more than 5 percent to 3.16 billion USD. The market expected a 2.10 USD per share in profit.

The value of shares declined by roughly 3 percent, because the told that instead the expected 10 to 11 percent, 9 to 10 percent annual increase is expected for the entire business year. (MTI)