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Visa Profit Tops Forecast on Robust Overseas Business

Credit card network Visa said that quarterly earnings rose 41 percent as fee revenue from international transactions rose.

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Visa Card

The results were better than Thomson's estimate of 48 cents per share.

Visa said net income for the fiscal third quarter ended June 30 was $422 million, or 51 cents per class A share, compared with pro forma results of $299 million in the same quarter a year earlier, when the company was privately held.

Excluding litigation, restructuring and other expenses and items, the company earned 59 cents per class A share, compared with analysts' average forecast of 50 cents a share.

Total operating revenue rose to $1.61 billion from $1.37 billion in the same quarter a year earlier.

International transaction fee revenue rose 44 percent to $449 million.

Visa shares rose about 4.5 percent in extended trade.

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