By Allison Prang

Visa Inc. reported a drop in cross-border volume, but revenue and adjusted earnings were higher than Wall Street was expecting.

Visa said earnings were $2.14 billion, down 29% from a year earlier. Earnings were 97 cents a share.

Adjusted earnings were $1.12 a share. According to FactSet, analysts were expecting $1.09 a share.

Revenue was $5.1 billion, down 17%. Analysts were expecting $5 billion. International transaction revenues slipped 38%.

Cross-border volume fell 29% on a constant-dollar basis.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

October 28, 2020 16:33 ET (20:33 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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