SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Visa Inc. (V) on Thursday reported fiscal first-quarter net income of $5.85 billion.
On a per-share basis, the San Francisco-based company said it had net income of $3.03. Earnings, adjusted for one-time gains and costs, were $3.17 per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $3.14 per share.
The global payments processor posted revenue of $10.9 billion in the period, also beating Street forecasts. Twelve analysts surveyed by Zacks expected $10.7 billion.
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