Visa Posts Higher Q1 Profit; Affirms Annual Outlook - Quick Facts

(RTTNews) - Card processor Visa Inc. (V) reported that its first-quarter net income attributable to the company advanced to $1.41 billion, or $2.20 per Class A share, from $1.29 billion, or $1.93 per Class A share, a year before. On average, 30 analysts polled by Thomson Reuters expected earnings per share of $2.16 for the quarter. Analysts' estimates typically exclude one-time items.

San Francisco, California-based firm posted operating revenue of $3.16 billion in the quarter, up 11%, versus the prior-year figure of $2.85 billion, and came in above consensus estimate of $3.13 billion, driven by strong growth in service revenues, data processing revenues and international transaction revenues. The strengthening of the U.S. dollar impacted net operating revenues by 2 percentage points of negative growth during the quarter, Visa added.

For 2014, Visa still expects net revenue to grow in the low double-digits on a constant dollar basis, with possible foreign currency losses of two percentage points.