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Visa Reports Strong Earnings in First Quarter

Photo Courtesy - Justin Sullivan/Getty Images(SAN FRANCISCO) -- Visa Inc. came out with its first quarterly report of 2011 Thursday, showing a net income of $884 million for the three months ended on Dec. 31, 2010.

The company also reported a net operating revenue of $2.2 billion in the first quarter, marking a 14 percent increase from the same time period in the prior year.

“Visa’s first quarter was a great start to our fiscal 2011 as evidenced by strong earnings fueled by continued growth in payments volume, cross border volume and processed transactions globally -- our core business,” said Visa Chairman and Chief Executive Officer Joseph Saunders. 

Copyright 2011 ABC News Radio

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