April 30, 2020 / 8:20 PM / a month ago

Visa quarterly profit rises 4%, pulls full-year outlook amid virus outbreak

April 30 (Reuters) - Visa Inc reported a 4% rise in second-quarter profit on Thursday and pulled its full-year outlook, as consumer spending took a beating while unemployment numbers jumped and people moved to conserve cash amid the COVID-19 pandemic.

The company's net income rose to $3.08 billion, or $1.38 per Class A share, in the second quarter ended March 31, from $2.98 billion, or $1.31 per Class A share, a year earlier. (bit.ly/2KKiRgt)

Net revenue rose to $5.85 billion from $5.49 billion. (Reporting by Bharath Manjesh in Bengaluru; Editing by Shounak Dasgupta)

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