Visa Inc. (NYSE: V) late Wednesday reported that its fiscal third-quarter profit rose to $883 million, or $1.26 per class A share, from a profit of $881 million, or $1.23 a per class A share, in the year-ago quarter. On an adjusted basis, the company earned $1.26 per class A share. Total operating revenues rose to $2.32 billion from $2.03 billion. Analysts, on average, expected the company to report earnings of $1.23 per share on revenue of $2.30 billion.
"Visa delivered another quarter of strong financial and operational performance as we benefitted from growth in global payments volume, and solid cross border and processed transaction growth," said Joseph Saunders, Chairman and Chief Executive Officer of Visa Inc. "As we address the new regulatory landscape, we are prepared to deliver on our financial goals and remain an industry leading growth company in the global transactions space."
Looking ahead, Visa affirmed its financial outlook through 2012. Annual class A common stock earnings per share growth is expected to be in the mid to high teens range, while annual net revenue growth is expected in the range of high single to low double digit.
Full Disclosure: None.