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Visa third quarter adjusted profit beats; ups full-year earnings forecast
Jul 25th, 2012
(Reuters) - Visa Inc's adjusted profit topped Wall Street estimates, and it raised its full-year earnings forecast for the second time this year, as more people move to card-based payments globally. Visa, the world's largest credit- and debit-card network, said adjusted per-share earnings growth for fiscal 2012 should be in the low twenties. It had previously forecast earnings growth in the range of high teens to low twenties. The San Francisco-based company posted an adjusted profit of $1.56 per share for the third quarter. Total operating revenue rose 11 percent to $2.57 billion. ... (Source: Reuters) -
NEW YORK (Reuters) - U.S. stocks ended modestly higher on Friday, registering a third straight weekly advance as gains in Google and other technology shares helped offset a slide in energy shares. The Dow Jones industrial average gained 35.87 points, or 0.24 percent, to 15,118.49, according to the latest available figures. The Standard & Poor&#... [Full Article]
CARDIFF (Reuters) - Britain may be as much as three quarters of the way through the process of working off the high debt levels which have weighed on the economy since the financial crisis, a top Bank of England policymaker said on Friday. Paul Fisher, one of nine members of the bank's rate-setting committee, said growth would remain weak whil... [Full Article]
LONDON (Reuters) - British baby and maternity products retailer Mothercare posted a better-than-expected rise in full-year profit and said it was making good progress with its three-year turnaround plan. The group, which has some 1,300 stores worldwide including 255 in the UK, on Thursday reported an underlying pretax profit of 8.3 million pounds f... [Full Article]
By Mridhula Raghavan (Reuters) - Luxury homebuilder Toll Brothers Inc reported stronger-than-expected results on higher average selling prices and booked its highest quarterly orders in seven years, sending its shares up 7 percent. Record-low interest rates and rising rents have encouraged more Americans to buy homes after the housing market bust, ... [Full Article]
JOHANNESBURG (Reuters) - South Africa's Tongaat Hulett reported a 15 percent rise in full-year earnings on Friday as sugar production rose and said it expected further growth in the year ahead. The agri-processing company said diluted headline earnings per share for the year to end-March totalled 942.3 cents from 819.4 cents a year ago. Total ... [Full Article]
HONG KONG (Reuters) - Shares in Chinese personal computer maker Lenovo Group Ltd jumped more than 4 percent after it reported a forecast-beating 90 percent rise in quarterly profit, its fastest in seven quarters. The stock rose as much as 4.3 percent in afternoon trade to HK$7.49 after it posted net profit of $126.9 million in the quarter ended in ... [Full Article]
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