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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.

Visa Card
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.