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-0.06% Chief Financial Officer Sachin Mehra attributed the cross-border volume decline to social distancing and border restrictions. Visa, which reported results after the market closed, also logged a smaller decline in revenue compared with previous quarters. The company’s revenue slipped just over 6% to $5.69 billion, a smaller decline than in the company’s third and fourth quarters. Visa’s cross-border volume decreased 21% on a constant-dollar basis. That was also less, however, than the declines the company saw in the fourth and third quarters. For the last part of 2020, the U.S. gr...

Provided by Dow Jones By Allison Prang Mastercard Inc. logged a smaller decline in quarterly revenue than in recent periods but the Covid-19 pandemic continued to spur weakness in cross-border spending. Revenue in the last three months of 2020 fell almost 7% to $4.12 billion but beat the $4 billion consensus analyst estimate from FactSet. The revenue decline was smaller than in the second and third quarters, when revenue fell by double-digit percentages. Mastercard attributed the fourth-quarter drop in revenue to lower cross-border volume, which fell 29% o...