Visa Q1 Results Top Estimates; Announces 4-for-1 Stock Split

(RTTNews) - Visa Inc. (V) reported net income for the first quarter of $1.6 billion or $2.53 per class A share, compared to $1.4 billion or $2.20 per class A share for the year-ago quarter.

Net operating revenue for the first quarter rose 7% to $3.38 billion from $3.16 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $2.49 per share on revenue of $3.34 billion for the first quarter.

Visa reaffirmed its fiscal full-year 2015 financial outlook, which calls for constant dollar revenue growth of low double digits and earnings per class A share growth in mid teens.

Visa also said that its board of directors has authorized a four-for-one stock split. On March 18, each class A shareholder of record at the close of business on February 13 will receive a dividend of three additional shares for every share held on the record date. Trading will begin on a split-adjusted basis on March 19.