Visa reported quarterly earnings and revenue that beat Wall Street's expectations on Wednesday as customers spent more with their cards.
After the earnings announcement, the company's shares rose 2 percent in trading after the closing bell. (Click here to get after-hour quotes for Visa.)
The credit and debit card company posted fiscal second-quarter earnings excluding items of $1.60 per share, up from $1.23 a share in the year-earlier period.
Net income was $1.29 billion, or $1.91 a share, compared with $811 million, or $1.23 a share, a year earlier.
Revenue rose 15 percent to $2.58billion from $2.25 billion a year ago.
Analysts had expected the company to report earnings excluding items of $1.51 a share on $2.48 billion in revenue.
"Our strong financial performance this quarter was fueled by continued growth of U.S. credit products, strong cross-border spending and expansion of Visa's core business in international markets," said Joseph Saunders, the company's chairman and chief executive officer.
Visa's report follows MasterCard's