Jim Cramer: Visa and MasterCard Totally Deliver with Quarterly Results - Video - TheStreet

Jim Cramer: Visa and MasterCard Totally Deliver with Quarterly Results

Shares of credit card companies Visa and MasterCard were higher Thursday after both companies reported better-than-expected quarterly results.
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Shares of credit card companies Visa and MasterCard were higher Thursday after both companies reported better-than-expected quarterly results. Jim Cramer says that's partly aided by the news that China will ease restrictions on foreign credit cards, giving Visa and MasterCard greater access to Chinese consumers. Cramer says he likes their double-digit growth and their online numbers. Revenue for Visa was up 8.6% to $3.23 billion from a year ago with adjusted profit coming in at $2.18 a share for its fiscal fourth quarter. Meanwhile MasterCard brought in third quarter earnings of 87 cents a share, a 19% increase from a year ago and revenue of $2.5 billion, that's up 13% year over year.