Visa Inc. Q2 Profit Increases, beats estimates

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

The company's earnings totaled $4.66 billion, or $2.29 per share. This compares with $4.26 billion, or $2.03 per share, in last year's second quarter.

Excluding items, Visa Inc. reported adjusted earnings of $5.12 billion or $2.51 per share for the period.

Analysts on average had expected the company to earn $2.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.9% to $8.78 billion from $7.99 billion last year.

Visa Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $4.66 Bln. vs. $4.26 Bln. last year. -EPS (Q2): $2.29 vs. $2.03 last year. -Revenue (Q2): $8.78 Bln vs. $7.99 Bln last year.