Visa Inc. Q2 Profit Increases, beats estimates

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

The company's bottom line came in at $3.65 billion, or $1.70 per share. This compares with $3.03 billion, or $1.38 per share, in last year's second quarter.

Excluding items, Visa Inc. reported adjusted earnings of $3.84 billion or $1.79 per share for the period.

Analysts on average had expected the company to earn $1.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.5% to $7.19 billion from $5.73 billion last year.

Visa Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $3.65 Bln. vs. $3.03 Bln. last year. -EPS (Q2): $1.70 vs. $1.38 last year. -Analyst Estimate: $1.65 -Revenue (Q2): $7.19 Bln vs. $5.73 Bln last year.