Visa Inc. (V) recently reported that their profit for the second quarter was up from the same period in the previous year, surpassing market expectations.
Visa reported earnings of $4.66 billion, equating to $2.29 per share. For context, this is an increase from the second quarter of last year, when earnings stood at $4.26 billion or $2.03 per share.
In terms of adjusted earnings, Visa reported $5.12 billion or $2.51 per share for the period, once specific items had been taken into account.
Industry analysts had predicted that Visa would generate earnings of around $2.29 per share, these projections were collected by Thomson Reuters and typically exclude any special items.
Visa's revenue for the quarter showed a healthy increase of 9.9%, rising to $8.78 billion from the $7.99 billion seen last year.
Here's a quick snapshot of Visa's earnings (on a GAAP basis):
- Earnings for Q2 were $4.66 billion, up from $4.26 billion last year.
- Earnings per share (EPS) for Q2 stood at $2.29, compared with $2.03 the previous year.
- Revenue for Q2 was $8.78 billion, a rise from $7.99 billion last year.
