SAN FRANCISCO (AP) _ Visa Inc. (V) on Wednesday reported fiscal fourth-quarter net income of $2.14 billion.
The San Francisco-based company said it had net income of 97 cents per share. Earnings, adjusted for non-recurring costs, came to $1.12 per share.
The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The global payments processor posted revenue of $5.1 billion in the period, also beating Street forecasts. Twelve analysts surveyed by Zacks expected $5.03 billion.
Visa shares have fallen almost 4% since the beginning of the year, while the Standard & Poor's 500 index has climbed 1%. In the final minutes of trading on Wednesday, shares hit $180.87, an increase of roughly 1% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on V at https://www.zacks.com/ap/V
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News