Visa profit rises 24 percent

Reuters

NEW YORK (Reuters) - Visa Inc's quarterly profit rose 24 percent, to $881 million, as increasingly confident consumers spent more money on their credit and debit cards.

The world's largest card processing network on Thursday reported net income of $1.23 per share for its fiscal second quarter ended March 31. That compared to $713 million, or 96 cents per share, a year earlier.

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Visa shares closed down 1.3 percent at $78.70 on Thursday and fell about 1.7 percent in after-hours trading.

(Reporting by Maria Aspan; Editing by Phil Berlowitz)