Visa (V) late Thursday reported stronger-than-expected fiscal first-quarter results as the payment processor benefited from robust spending during the holiday season.

Adjusted earnings increased to $2.75 per share during the three months ended Dec. 31 from $2.41 a year earlier, higher than the consensus on FactSet for $2.66. Revenue rose 10% to $9.51 billion, exceeding Wall Street's $9.34 billion view.

"Visa's strong first-quarter results reflected healthy spending during the holiday season and improving trends in payments volume, cross-border volume, and processed transactions growth," Chief Executive Ryan McInerney said in a statement.

Payments volume increased 9% year-over-year, while total cross-border volume climbed 16% on a constant-dollar basis. Transactions processed by Visa reached 63.8 billion, an 11% increase.

Visa expects current-quarter net revenue to grow by a high-single to low-double digit annually on an adjusted constant-dollar basis. Adjusted EPS is seen rising by a high-single digit.

For fiscal 2025, it forecasts low-double digit growth, compared with prior expectations for revenue to rise by a high-single to low-double digit. Full-year EPS growth is expected in the low-teens, versus the previous outlook indicating the bottom line would come at the high end of low-double digit growth.