Visa’s profit doubles
(28 October 2010 – Global) Visa has announced its fourth-quarter profit has risen by 51 per cent on last year, as transaction processing revenue rose.
Visa said that its net income for the quarter reached US$774 million (A$798 million), compared with US$514 million last year.
After the adjustment for certain charges the final result came to 95 cents per share, topping Wall Street's projection of 94 cents.
Overall revenue rose 13 percent to US$2.12 billion.
The card giant has forecasts revenue growth between 11 and 15 percent in the next fiscal year, and still expects better-than-20 percent earnings per share growth.
After the adjustment for certain charges the final result came to 95 cents per share, topping Wall Street's projection of 94 cents.
Overall revenue rose 13 percent to US$2.12 billion.
The card giant has forecasts revenue growth between 11 and 15 percent in the next fiscal year, and still expects better-than-20 percent earnings per share growth.
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