Visa Inc. posted a fiscal fourth-quarter profit that beat Wall Street estimates as consumer card spending climbed, and the world’s biggest payments network announced a new US$25 billion stock repurchase plan.

Net income totalled $4.7 billion, or $2.27 a share, for the three months ended Sept. 30, the San Francisco-based company said Tuesday in a statement. That beat the $2.23 average estimate of analysts surveyed by Bloomberg. Payments volume climbed 8.7 per cent to $3.2 trillion.

“Throughout the year, we have seen resilient consumer spending,” Chief Executive Officer Ryan McInerney said in the statement. “As we enter a new fiscal year, I am confident in our ability to deliver against a backdrop of geopolitical and economic uncertainty.”

Shares of Visa rose 1 per cent to $237.02 in extended trading at 4:52 p.m. in New York. The stock had gained 13 per cent this year through the close of regular trading.

U.S. consumers have remained resilient amid geopolitical upheaval, stubborn inflation and the threat of a recession, although American Express Co. last week reported a slowdown in spending growth on its corporate cards.

Visa rival Mastercard Inc. is scheduled to report quarterly results before U.S. markets open Thursday.

Other fourth-quarter highlights:

• Net revenue climbed 11 per cent to $8.61 billion, beating Wall Street’s $8.56 billion estimate
• The strongest card spending growth came in Central Europe, the Middle East and Africa, increasing 22 per cent from a year earlier
• Cross-border volumes increased 16 per cent, down from 36 per cent in the same period last year
• Firm reserved $129 million for litigation in the period