Visa Inc. Q3 Profit Increases, beats estimates

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

The company's earnings came in at $4.16 billion, or $2.00 per share. This compares with $3.41 billion, or $1.60 per share, in last year's third quarter.

Excluding items, Visa Inc. reported adjusted earnings of $4.50 billion or $2.16 per share for the period.

Analysts on average had expected the company to earn $2.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.5% to $8.12 billion from $7.28 billion last year.

Visa Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $4.16 Bln. vs. $3.41 Bln. last year. -EPS (Q3): $2.00 vs. $1.60 last year. -Analyst Estimate: $2.12 -Revenue (Q3): $8.12 Bln vs. $7.28 Bln last year.