At credit card company Visa, business continues to boom thanks to the ongoing consumer and travel enthusiasm of its customers. In the third quarter of the 2023/24 fiscal year, revenue climbed by ten percent to $8.9 billion (8.2 billion euros), as the Dow Jones-listed company announced on Tuesday in San Francisco. Profits rose by 17 percent to $4.9 billion.

In the three months up to the end of June, the number of completed transactions increased by ten percent, while the processed payment volume increased by seven percent. Despite these positive developments, the results were slightly worse than expected by experts.

The stock lost two percent in an initial after-hours reaction. After years of soaring which had driven the paper to a record high of just over $290 in March, Visa's stock recently lost momentum and has since declined by almost ten percent. With a market value of around $550 billion, however, Visa still ranks 13th among the most valuable U.S. companies. Since the stock was included in the Dow Jones in September 2013, its price has increased by almost 400 percent, making it one of the best-performing Dow Jones stocks in this period.

The Visa stock temporarily fell by 1.98 percent to $259.56 in after-hours trading on the NYSE.