Hotel and flight bookings fell away.
The US financial group Visa continues to suffer from lower spending by credit card customers in the Corona crisis. In the most recent fiscal quarter (until the end of December), profits fell by four percent compared to the previous year to 3.1 billion dollars (2.6 billion euros), as Visa announced on Thursday after the US market closed.
Revenues fell six percent to $ 5.7 billion. As with rival Mastercard, a pandemic-induced slump in foreign payments in particular depressed the balance sheet.
Due to the limited travel, for example, hotel and flight bookings are no longer available, for which the credit card would otherwise often be withdrawn. Nevertheless, business recovered overall towards the end of the year and profits were higher than expected by financial analysts.
The share initially reacted with moderate price premiums after the trading hours, which is also likely to have been due to the expansion of the share buyback program by eight billion to now over eleven billion dollars.
