Visa, Inc. (NYSE: V) has posted very pleasing earnings, one of the few bits of good news in the financial sector. The credit card processing giant earned $0.78 EPS on an adjusted basis, beating estimates of $0.66 EPS. Its revenues were $1.7 billion, ahead of estimates of $1.68 billion. This report is strong enough that it is even boosting shares of MasterCard Inc. (NYSE: MA).
Processed transaction growth, the strength of debit transactions, and the global diversity of its business are why it is doing well, according to Visa.
The company also said that revenue growth is likely in the low single digits, but the company remains steadfast in its ability to meet its own 2009 EPS guidance. Full-year 2009 annual net revenue growth is in the high single-digits.
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