NEW YORK (MarketWatch)Visa Inc. reported its first-quarter profit rose 9% to $1.41 billion, or $2.20 a share, from $1.29 billion, or $1.93 a share, a year earlier
Revenue rose to $3.16 billion, up 11% from $2.85 billion a year earlier, the payment processor said
Analysts had expected earnings of $2.17 a share on revenue of $3.14 billion, according to FactSet
Visa kept in place its outlook for the fiscal year, predicting annual net revenue growth in the low double-digits on a constant-dollar basis
In a statement, CEO Charlie Scharf said a recent string of data breaches "are terribly unfortunate for everyone involved."
The breaches "remind us of the need for all of us to continue to work together to secure payments from criminals," he said
Visa will move the industry to adopt safeguards like chip and tokenization, Scharf said, without indicating how quickly that might happen
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NEW YORK (MarketWatch) -- MasterCard Inc. MA -5.94% reported fourth-quarter profit rose to $623 million, or 52 cents per share, compared to $605 million, or 49 cents per share in the same period a year earlier. The company set aside an extra $95 million for litigation settlement. Excluding the special items, earnings were reported as 57 cents per share. Revenue rose to $2.13 billion, compared to $1.9 billion the same quarter the year before. Analysts were expecting 60 cents per share, on revenue of $2.14 billion. Shares fell more than 6% in premarket trading
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