Visa posts ’07 loss of $861 million
From Times Wire Services
Credit card leader Visa Inc. posted an $861-million loss for fiscal 2007, weighed down by $2.65 billion in litigation costs, most of which came from settling an antitrust suit brought by rival American Express Co.
Revenue in the year ended Sept. 30 rose 33% to $5.19 billion. The loss compares with profit of $453 million in 2006, Visa said.
