Emerging market opportunities help Visa top July-September expectations
November 2, 2012, 12:43 pm TWN
NEW YORK -- Visa beat Wall Street's expectations for the latest quarter as it sought out business overseas.
The payments processing company made US$1.7 billion for the fiscal fourth quarter, which covered July through September, or US$2.47 per share. That was nearly double the US$880 million, or US$1.27, that it made in the same period a year ago. After adjusting for one-time items, earnings were US$1.54. That beat the predictions of analysts polled by FactSet, who had expected US$1.50.