beat quarterly profit expectations on Thursday as domestic spending through its cards rose and cross-border volumes grew following an uptick in international travel.
Gross dollar volumes, which represents the dollar value of the transactions processed, jumped 23 per cent to $2.1-trillion from a year earlier. Cross border volumes, a key metric that track card spending beyond the country of issue, rose 53 per cent. Operating expenses, however, rose 16 per cent from a year earlier to $2.4-billion, dragging shares down 1.35 per cent to $340., which beat quarterly profit estimates on record levels of spending through its cards.The company’s profit rose to $2.4-billion, or $2.41 per share, in the quarter ended Dec. 31, from $1.8-billion, or $1.78 per share a year earlier.
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