Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
The U.S. Federal Reserve on Wednesday cut its overnight rate by 25 basis points to a range of 1.75% to 2%, a move that was widely expected. The central bank, however, appeared...Asia Marketsread more
Investors bought bank stocks because there's a chance the Federal Reserve's interest rate cut may "put an end to this artificially inverted yield curve," Jim Cramer says.Mad Money with Jim Cramerread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
The Facebook CEO will talk to policymakers "about future internet regulation," according to a spokesperson.Technologyread more
Disney CEO Bob Iger writes in his autobiography that he believes he would have discussed combining Disney with Apple had Steve Jobs lived.Technologyread more
Visa, the world's largest payments network operator, reported better-than-expected quarterly profit and revenue, boosted by the inclusion of Visa Europe's results and as customers spent more using its network.
The company said total payments volume increased 47.1 percent to $1.86 trillion on a constant dollar basis in the fourth quarter ended Sept. 30, from a year earlier.
"We have begun to see the benefits from our acquisition of Visa Europe and strong cost discipline helped our results," Chief Executive Charles Scharf said in a statement.
Scharf last week said he would be stepping down effective Dec. 1. The last big move in his four-year tenure was the consolidation of Visa's position as the world's largest payments processor with the $23 billion deal to buy Visa Europe, a deal that was completed in June.
The United States accounted for about 41 percent of the total payments volume in the latest quarter, while Europe accounted for about 25 percent, Visa said.
Cross-border volumes jumped 149 percent, including Visa Europe and on a constant dollar basis.
Operating expenses rose 27 percent to $1.64 billion, mainly driven by the inclusion of Visa Europe, the company said.
Excluding special items, the company earned 78 cents per share, beating the average analyst estimate of 73 cents, according to Thomson Reuters I/B/E/S.
Total operating revenue rose 19.3 percent to $4.26 billion, brushing past expectations of $4.23 billion.
For the current financial year, the company expects adjusted earnings per Class A share to grow in the mid-teens and net revenue to grow in the 16 percent to 18 percent range, both on a nominal dollar basis.
Analysts were expecting earnings per share to rise 16.9 percent and revenue to grow 19.6 percent.
The uncertainty related to Brexit and economic weakness in Europe are likely to hurt both domestic and cross-border volumes in 2017, Chief Financial Officer Vasant Prabhu said in a post-earnings call.
Visa's shares were down 0.4 percent in choppy trading after the bell.
Up to Monday's close of $83.17, the company's shares had risen about 7.2 percent this year, compared with a rise of about 6 percent for MasterCard.
MasterCard, San Francisco-based Visa's closest rival, is scheduled to report its fourth-quarter results on Oct. 28.