Visa reveals strong performance during the second quarter

On Wednesday Visa Inc announced financial results for the company's fiscal second quarter 2009 ended March 31, 2009.

It was revealed that on an adjusted basis net income for the quarter made up $553 million, or $0.73 per diluted class A common share. GAAP net income for the quarter made up $536 million, or $0.71 per diluted class A common share. The weighted average number of diluted class A common shares outstanding was 753 million. The company's adjusted net income and adjusted diluted net income per class A common share are non-GAAP financial measures that are reconciled to their most directly comparable GAAP measures in the accompanying financial tables, says the report.

The fiscal second quarter net operating revenue made up $1.6 billion, reflecting an increase of 13% against the 2008 results, driven by contributions across all revenue categories. Payments volume continued to grow on a constant dollar basis in all other regions globally, although it’s slightly negative in the U.S. Processed transactions continued to show strong growth globally.

As Visa Chairman and CEO Joseph Saunders stated, Visa continued to reveal strong performance during fiscal second quarter, despite the global economic recession. He expects, company to remain confident in delivering its EPS guidance for FY 2009.