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Visa Quarterly Results Beat, but Shares Slip

Visa posted earnings and revenue that edged above analysts' estimates Thursday, but shares slipped in extended trading.

But the company's shares fell in after-hours trading, as Visa failed to beat expectations by the wide margins investors were once used to. Get after-hour quotes for Visa here.

The credit-card provider reported fiscal second quarter earnings of $1.23 a share. Visa earned 96 cents a share during the same period a year earlier.

Sales for the most recent quarter rose to $2.25 billion, up from $1.96 billion last year.

The company was seen earning $1.20 a share on revenue of $2.23 billion, according to a consensus from Thomson Reuters.

The shares closed at $78.79 in the regular New York Stock Exchange session. Volume exceeded 4.8 million shares before the closing bell.

The company also said its board had authorized a $1 billion share buyback program, which will be in place through April 20, 2012.

"Visa delivered a solid financial performance in our fiscal second quarter with double-digit growth in payments volume, cross border volume and Visa-processed transactions from across the globe," said Joseph Saunders, CEO of Visa, in a prepared statement.

"In addition to working with our financial institutions and merchant clients to expand card issuance and acceptance for our core products, we are investing in new platforms, channels and technologies that will deliver value to our clients and consumers for years to come," continued Saunders.

Earlier this week, rival MasterCard's quarterly profit rose 24 percent, beating expectations, as consumers spent more money on their credit and debit cards.

However, credit-card companies are facing the prospect of increased regulations from the U.S. Dodd-Frank financial reform law, which will restrict the fees merchants pay banks and networks every time a customer buys something with a debit card.