Visa reports better-than-expected quarterly profit

Visa's net income rose to $1.57 billion, or $2.53 per Class A share, in the quarter ended Dec. 31 from $1.41 billion, or $2.20 per Class A share, a year earlier. Analysts on average had expected earnings of $2.49 per share on revenue of $3.34 billion for the company's first fiscal quarter, according to Thomson Reuters I/B/E/S. Visa's shares were up 4.4 percent at $258.95 in extended trading on Thursday. Visa earns money from both the volume and value of transactions using its cards.

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