Visa, the global payments technology company, reported today on its fiscal second quarter. Net income for the quarter was $1.6 billion, or $0.63 earnings per share (adjusted for the Company’s four-for-one class A common stock split on March 19, 2015).
Visa’s net operating revenue saw an increase of 8 per cent nominally to $3.4 billion or 10% on a constant dollar basis over the prior year.
The company believes the increase was down to solid growth in service revenues, international transaction revenues and data processing. The strengthening of the dollar affected net operating revenues by an estimated 2.5 per cent of negative growth during the quarter.
Some of the financial highlights for the fiscal second quarter included a payment volume growth, on a constant dollar basis, of 11 per cent over the previous year at $1.2 trillion.
Total processed transactions (transactions processed by VisaNet) for three months ending 31st March, 2015 were 17.0 billion: an 11 per cent increase.
“Visa reported another solid quarter of financial results against the continued backdrop of a tepid global economy. While the negative impacts from the strengthening of the U.S. dollar and lower gasoline prices continued to exert pressure on revenue growth, our results and volume trends have remained strong,” said Charlie Scharf, CEO of Visa Inc.
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