Visa Inc. (NYSE: V) reported late Thursday that its fiscal second-quarter net income rose to $881 million, or $1.23 per class A common share, from $713 million, or 97 cents per class A common share, in the year-ago quarter. Net operating revenue climbed 15% to $2.2 billion. Analysts, on average, expected the company to report earnings of $1.20 per share on revenue of $2.23 billion.
"Visa delivered a solid financial performance in our fiscal second quarter with double-digit growth in payments volume, cross border volume and Visa-processed transactions from across the globe," said Joseph Saunders, Chairman and Chief Executive Officer of Visa Inc. "With a strong first half of our fiscal 2011 year behind us, we remain focused on driving continued transaction growth, maintaining strong financial performance and expense control discipline, and delivering value to our shareholders through share repurchase programs and dividend payments."
Looking ahead, Visa reaffirmed its financial forecast through 2011 with annual earnings per class A share growth of greater than 20 percent, and annual net revenue growth of 11 percent to 15 percent.
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