Visa Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Visa Inc. (V) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $4.89 billion, or $2.39 per share. This compares with $4.18 billion, or $1.99 per share, in last year's first quarter.

Excluding items, Visa Inc. reported adjusted earnings of $4.94 billion or $2.41 per share for the period.

Analysts on average had expected the company to earn $2.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.7% to $8.63 billion from $7.94 billion last year.

Visa Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $4.89 Bln. vs. $4.18 Bln. last year. -EPS (Q1): $2.39 vs. $1.99 last year. -Analyst Estimate: $2.34 -Revenue (Q1): $8.63 Bln vs. $7.94 Bln last year.