Net income totalled US$4.7 billion, or US$2.27 a share, in the fiscal fourth quarter ended Sept 30, the San Francisco-based company said Tuesday in a statement. That topped the US$2.23 average estimate of analysts surveyed by Bloomberg. Payments volume climbed 8.7% to US$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 slipped less than 1% in extended trading at 6:45pm in New York. The stock had gained 13% this year through the close of regular trading.

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

The Federal Reserve is poised to consider a change to the limit on fees merchants must pay to banks each time consumers swipe a debit card at checkout.

Visa is closely monitoring the developments and will be prepared to respond accordingly, chief financial officer Chris Suh said in an interview. The firm is adept in responding to a changing regulatory environment. “These are things we know how to do well,” he said.

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

Other highlights from Visa’s quarter:

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