Visa Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Visa Inc. (V) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $4.18 billion, or $1.99 per share. This compares with $3.96 billion, or $1.83 per share, in last year's first quarter.

Excluding items, Visa Inc. reported adjusted earnings of $4.58 billion or $2.18 per share for the period.

Analysts on average had expected the company to earn $2.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.5% to $7.94 billion from $7.06 billion last year.

Visa Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $4.18 Bln. vs. $3.96 Bln. last year. -EPS (Q1): $1.99 vs. $1.83 last year. -Analyst Estimate: $2.01 -Revenue (Q1): $7.94 Bln vs. $7.06 Bln last year.