Visa’s quarterly profit rises 6.6 percent

The company’s total payments volume rose 39 percent to $1.8 trillion on a constant dollar basis in the first quarter, far exceeding the 11 percent growth in the year-ago quarter. This is Visa’s first earnings report since new chief executive, Alfred Kelly, took over from Charles Scharf on Dec. 1. “Visa’s fiscal 2017 is off to a terrific start with a strong first quarter of revenue and earnings growth driven by accelerating growth in payments volume, cross-border commerce and processed transactions in virtually all regions around the world,” said Kelly.