Visa Shares Rise on Q1 Results (V)

Global payments company, Visa Inc. (NYSE: V) released its first-quarter financial results. The San Francisco, California-based company reported strong first-quarter financial results, sending shares higher in trading today.

Visa shares rose to a new 52-week high of $114.90 today, and at last check, the stock was trading 3.87% higher at $112.54 on above average volume of 5.27 million.

For the first quarter ended December 31, 2011, Visa reported net income of $1 billion, or $1.49 per share, representing an increase of 21% over the same period in the previous year. The company’s net operating revenue for the first quarter of fiscal 2012 was $2.5 billion, representing an increase of 14% over the same period in the previous year.

The year-over-year increase in net operating revenue was driven by strong double-digit growth in service revenue, data processing revenue and international transaction revenue.

The company’s payment volume growth for the first quarter rose 11% on a year-over-year basis. Cross-border volume growth rose 13% on a year-over-year basis. The company’s total processed transactions, which represent transactions processed at VisaNet, rose 8% on a year-over-year basis in the first quarter.

Joe Saunders, Chairman and CEO of Visa, said that the company’s core businesses drove a strong start to fiscal 2012 and the company achieved solid financial and operational performance as it continued the secular shift to electronic payments.

Saunders said that consumers’ desire to use the company’s product is evident in the strong growth seen outside the U.S. and the resiliency seen in the U.S. in the wake of debit regulation. Saunders also said that the company remains focused on further growing its international business, partnering with financial institutions, merchants, technology providers and government and at the same time, the company is moving forward on its innovation strategy and is working side by side with its financial institution and merchant clients to deliver the products and solutions that best drive its mutual success.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.