Payment services company Visa reported better-than-predicted earnings on Thursday despite headwinds from a strong U.S. dollar.
Visa beat earnings and revenue expectations for its fiscal first quarter of 2016. The company reported fiscal first-quarter earnings of 69 cents per share on revenue of $3.57 billion for the period.
Analysts had expected Visa to report adjusted earnings of about 68 cents a share on $3.62 billion in revenue, according to a consensus estimate from Thomson Reuters.
Shares of Visa were up about 2 percent after the bell.
Total payments volume rose 11 percent to $1.3 trillion on a constant dollar basis. Wall Street analysts had expected an increase in payments volume of 6.1 percent, according to StreetAccount.
U.S. payment volumes, which account for more than half of its total payment volumes, jumped 9.5 percent.
"We continue to be pleased with our financial performance given the uneven global economy and the ongoing negative effects of the strong U.S. dollar. While we continue to see relatively strong payments volume growth, these factors have meaningfully reduced our cross-border volume and revenue growth," said Charlie Scharf, chief executive officer of Visa in a statement.