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A look at the narrow Q4 loss, with Adam Frisch, UBS IT services

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Visa Profit, Revenue Beat Expectations
Reuters | 29 Oct 2008 | 04:52 PM ET
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Visa, the world's largest credit card network, posted higher-than-expected adjusted quarterly income, as international processing revenue rose.

Excluding litigation, restructuring and other expenses, the company said on Wednesday that its adjusted net income for the fiscal fourth quarter ended September 30 was $448 million, or 58 cents per Class A share, compared with a pro forma income of $196 million a year earlier, when the company was privately held.

Analysts forecast, on average, adjusted earnings of 56 cents, according to Reuters Estimates.

Net operating revenues were $1.7 billion.

Earlier this week, Visa and MasterCard said they will pay up to $2.75 billion to Discover Financial Services to settle an antitrust suit.

Visa Earnings
Flikr/liewcf

Visa of San Francisco will pay $1.89 billion, and MasterCard of Purchase, N.Y., will pay $862.5 million.

Visa's stock [V  Loading...      ()   ] fell less than 1 percent in after-hours trade after closing the regular trading session up 1.44 percent at $50.69.

The company's shares have fallen around 10 percent since Visa's debut on the New York Stock Exchange in March.

-CNBC.com staff contributed to this story.

Copyright 2008 Reuters. Click for restrictions.

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