Visa Inc. Q2 Profit Increases, beats estimates

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

The company's earnings totaled $4.26 billion, or $2.03 per share. This compares with $3.65 billion, or $1.70 per share, in last year's second quarter.

Excluding items, Visa Inc. reported adjusted earnings of $4.38 billion or $2.09 per share for the period.

Analysts on average had expected the company to earn $1.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.1% to $7.99 billion from $7.19 billion last year.

Visa Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $4.26 Bln. vs. $3.65 Bln. last year. -EPS (Q2): $2.03 vs. $1.70 last year. -Analyst Estimate: $1.99 -Revenue (Q2): $7.99 Bln vs. $7.19 Bln last year.