Visa Inc. Announces 24% Rise In Q1 Profit

(RTTNews) - Visa Inc. (V) revealed a profit for its first quarter that rose compared to the same period last year.

The company said its bottom line totaled $1.94 billion, or $0.80 per share. This was up from $1.57 billion, or $0.63 per share, in last year's first quarter.

Analysts had expected the company to earn $0.68 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 5.6% to $3.57 billion. This was up from $3.38 billion last year.

Visa Inc. earnings at a glance:

-Earnings (Q1): $1.94 Bln. vs. $1.57 Bln. last year. -Earnings Growth (Y-o-Y): 23.6% -EPS (Q1): $0.80 vs. $0.63 last year. -EPS Growth (Y-o-Y): 27.0% -Analysts Estimate: $0.68 -Revenue (Q1): $3.57 Bln vs. $3.38 Bln last year. -Revenue Change (Y-o-Y): 5.6%