Visa Inc. (V) has reported a year-on-year increase in earnings for its first quarter, exceeding Wall Street predictions.
In this quarter, the company's earnings reached $4.89 billion, equating to $2.39 per share. This is an increase from the $4.18 billion, or $1.99 per share, reported in the first quarter of the previous year.
When special items are excluded, Visa Inc.'s adjusted earnings for the period were $4.94 billion, or $2.41 per share. Thomson Reuters' compiled figures reveal analysts had, on average, forecasted the company would earn $2.34 per share. It is standard practice for these estimates to exclude special items.
Revenue for the quarter rose by 8.7%, from $7.94 billion last year to $8.63 billion.
To summarize the performance of Visa Inc.'s GAAP earnings at a glance:
- Earnings (Q1): $4.89 billion compared to $4.18 billion last year.
- EPS (Q1): $2.39 compared to $1.99 last year.
- Analysed Estimate: $2.34
- Revenue (Q1): $8.63 billion compared to $7.94 billion last year.
