Visa 2Q profits fall 2%, as economic slowdown hits payments

A Visa sign is displayed on the front door of a local business, Tuesday, April 27, 2021, in Urbandale, Iowa. Visa Inc.'s fiscal second-quarter profits fell 2% from a year earlier, as the company dealt with a slowdown across its payment network due to the global pandemic. The payment processing giant said Tuesday, April 27, 2021 that it earned $3.03 billion in its second quarter ended March 31, or $1.38 a share, down from $3.08 billion in the same period a year ago. Due to Visa buying back its own stock, the company's earnings per share last year was also $1.38. (AP Photo/Charlie Neibergall)