SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Visa Inc. (V) on Thursday reported fiscal first-quarter profit of $5.12 billion.
The San Francisco-based company said it had net income of $2.58 per share. Earnings, adjusted for severance costs and investment costs, came to $2.75 per share.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.66 per share.
The global payments processor posted revenue of $9.51 billion in the period, also topping Street forecasts. Twelve analysts surveyed by Zacks expected $9.34 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on V at https://www.zacks.com/ap/V
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