Visa Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Visa Inc. (V) released earnings for third quarter that dropped from the same period last year.

The company's profit totaled $2.37 billion, or $1.07 per share. This compares with $3.10 billion, or $1.37 per share, in last year's third quarter.

Excluding items, Visa Inc. reported adjusted earnings of $2.35 billion or $1.06 per share for the period.

Analysts had expected the company to earn $1.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 17.1% to $4.84 billion from $5.84 billion last year.

Visa Inc. earnings at a glance:

-Earnings (Q3): $2.35 Bln. vs. $3.10 Bln. last year. -EPS (Q3): $1.06 vs. $1.37 last year. -Analysts Estimate: $1.03 -Revenue (Q3): $4.84 Bln vs. $5.84 Bln last year.