American Visa Inc. the operator of the world's largest payment system, reduced net profit in the third financial quarter by 76% because of the essential single expenses connected with acquisition of Visa Europe Ltd.
The company also declared start of the new program of repayment of actions of $5 billion and partnership creation with payment service of PayPal.
As it is reported in Visa press release, its net profit in April-June made $412 million, or $0,17 for a class "A" action, in comparison with $1,7 billion or $0,69 for an action, for the similar period of the previous fiscal year.
The indicator includes single expenses of more than $2,2 billion connected with acquisition of Visa Europe.
Visa profit without single factors made $0,69 for an action, having exceeded the average forecast of the experts interrogated by Thomson Reuters, at the level of $0,66 for an action.
The revenue of the company increased by 3,2% - to $3,63 billion at the average forecast of the market in $3,65 billion
The volume of payments on the Visa cards in last finkvartal grew by 10% - to $1,3 trillion, the volume of cross-border payments increased by 5%.
All in April-June the company processed 19,8 billion transactions according to cards - 10% more, than year before.
"A little that changed in the global economic environment, and cross-border operations restrain dollar strengthening, however consumer expenses in domestic markets worldwide remain high and flexible", - the chief executive officer of Visa Charlie Sharf notes.
Last quarter Visa redeemed own shares on $1,7 billion, since the beginning of the current fiscal year the volume of repayment made already $5,5 billion
Within the new partner agreement concluded with PayPal, consumers will be able to transfer funds from PayPal and Venmo purses to bank accounts by means of the Visa card.
These arrangements, as expected, will give to users new opportunities at payment of goods and services, and also will significantly facilitate to clients life at expeditious removal of money from the account - certainly, in case of program coordination with a debit card of Visa.
Negotiations between the companies came to the end with coordination of the size of the commission which PayPal pays Visa at transactions.