Visa Inc (NYSE: V) on Thursday 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 percent 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 capitalise 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 programmes. 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.-PR
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