Solid first Quarter ResultsWoW .....this stock will be worth hundreds if we increase 13% year over year....amazing results
if you can't beat them just join them....very happy owner of Visa....cheers
Thecook.
Visa Inc. Posts Solid Fiscal First Quarter 2010 Earnings Results
2/3/2010 4:05 PM - PR Newswire
- GAAP quarterly net income of $763 million or $1.02 per diluted class A common share - Company updates full-year 2010 guidance for net revenue, operating margin, tax rate and capital expenditures
SAN FRANCISCO, Feb 03, 2010 /PRNewswire via COMTEX News Network/ --
Visa Inc. (NYSE: V) today announced financial results for the Company's fiscal first quarter 2010 ended December 31, 2009. GAAP net income for the quarter was $763 million, or $1.02 per diluted class A common share. The weighted average number of diluted class A common shares outstanding was 745 million.
GAAP net operating revenue in the fiscal first quarter of 2010 was $2.0 billion, an increase of 13% over the prior year and driven by strong contributions across all revenue categories, in particular data processing revenues and international transaction revenues.
"By all measures, Visa's fiscal first quarter was a strong start to the new year, as we continued to execute well against our business plan," said Joseph Saunders, Chairman and Chief Executive Officer, Visa Inc. "We were able to capitalize on the secular trend to digital currency and grow revenues, as we expanded our payments network and processing capabilities to drive transaction growth through effective marketing programs. Even in the midst of the current economic environment, we remain fully committed to assisting our clients through these challenging times and returning excess cash to our shareholders."