Visa Inc. Q3 Profit Increases, beats estimates

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

The company's bottom line totaled $3.41 billion, or $1.60 per share. This compares with $2.58 billion, or $1.18 per share, in last year's third quarter.

Excluding items, Visa Inc. reported adjusted earnings of $4.21 billion or $1.98 per share for the period.

Analysts on average had expected the company to earn $1.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.8% to $7.28 billion from $6.13 billion last year.

Visa Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $3.41 Bln. vs. $2.58 Bln. last year. -EPS (Q3): $1.60 vs. $1.18 last year. -Analyst Estimate: $1.74 -Revenue (Q3): $7.28 Bln vs. $6.13 Bln last year.