SAN FRANCISCO (AP) _ Visa Inc. (V) on Thursday reported fiscal second-quarter earnings of $3.08 billion.
The San Francisco-based company said it had profit of $1.38 per share. Earnings, adjusted for non-recurring costs, were $1.39 per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The global payments processor posted revenue of $5.85 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $5.75 billion.
Visa shares have declined nearly 5% since the beginning of the year, while the Standard & Poor’s 500 index has fallen nearly 10%. In the final minutes of trading on Thursday, shares hit $179.26, a rise of 9% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on V at https://www.zacks.com/ap/V
The Associated Press