Forecasts surpassed by Visa

In the teeth of some expectations that Visa would disappoint the market the company closed its first full quarter as a public company with the figures that beat the forecasts of analysts.

In March Visa became the largest IPO in American history and earned $422 million or 51 per share during its fiscal third-quarter against $299 million in the same period last year.

Excluding one-time items, Visa earned 59 cents per share. As per the reports from the company its revenue made up $1.6 billion for the period. In the second quarter the credit card giant earned 39 cents per share.

A number of analysts expected Visa to gain 50 cents per share on revenue of $1.56 billion.

The officials of the company also said that Visa’s payment volume jumped 19% to $652 billion from the year before and the company's total volume, including cash volume, rose 22% to $1 trillion.