Visa’s profit jumped 25 percent in the last three months of 2012 as consumers hit stores for the holidays, using their credit cards and debit cards more often.
The payments processing company is also expanding a program to buy back its stock, Visa said Wednesday.
Shares slipped 52 cents to $160.30 in after-hours trading. The stock ended regular trading up $1.29 at $160.82.
Visa’s results provide insight into how consumers are spending. Revenue from data processing, international transactions and service all rose from a year earlier in the October-December quarter, when consumers ramp up spending for the holidays. Volume of credit and debit card transactions rose to $1.7 billion from $1.6 billion in the same quarter of 2011.
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