Visa Profit Beats Quarterly Estimates on Higher Travel, Online Spending

Visa Profit Beats Quarterly Estimates on Higher Travel, Online Spending
A Visa credit card is seen on a computer keyboard in this picture illustration taken on Sept. 6, 2017. Philippe Wojazer/Illustration/Reuters
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NEW YORK—Visa Inc. beat Wall Street’s quarterly estimates on Thursday as more international travel and e-commerce drove an increase spending volumes.

While travel spending has stalled since late December due to the Omicron variant of the coronavirus, Visa executives said they believe the recovery will resume and net revenue will grow in the second fiscal quarter this year.