Visa Inc. Earnings Retreat 9% In Q3

(RTTNews) - Visa Inc. (V) announced a profit for third quarter that fell compared to the same period last year.

The company said its bottom line came in at $1.64 billion, or $0.69 per share. This was lower than $1.81 billion, or $0.74 per share, in last year's third quarter.

Analysts had expected the company to earn $0.66 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 3.1% to $3.63 billion. This was up from $3.52 billion last year.

Visa Inc. earnings at a glance:

-Earnings (Q3): $1.64 Bln. vs. $1.81 Bln. last year. -Earnings Decline (Y-o-Y): -9.4% -EPS (Q3): $0.69 vs. $0.74 last year. -EPS Decline (Y-o-Y): -6.8% -Analysts Estimate: $0.66 -Revenue (Q3): $3.63 Bln vs. $3.52 Bln last year. -Revenue Change (Y-o-Y): 3.1%