Summary Box: Visa 4Q profit rises 14 percent

AP News
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Posted: Oct 26, 2011 5:25 PM
Summary Box: Visa 4Q profit rises 14 percent

PROFIT JUMPS: Visa Inc. posted a 14 percent jump in fiscal fourth-quarter profit, to $880 million, or $1.27 per share. Revenue rose 13 percent to $2.38 billion.

MORE CARD USE: The payments processor handled 13 billion transactions in the quarter, up 9 percent.

DEBIT OUTPACES CREDIT: Worldwide, debit card use reached $888 billion, versus $661 billion spent on credit cards.