FX.co ★ Visa Inc. Q2 Profit Increases, beats estimates

Visa Inc. (V) recently reported that their profit for the second quarter was up from the same period in the previous year, surpassing market expectations.

Visa reported earnings of $4.66 billion, equating to $2.29 per share. For context, this is an increase from the second quarter of last year, when earnings stood at $4.26 billion or $2.03 per share.

In terms of adjusted earnings, Visa reported $5.12 billion or $2.51 per share for the period, once specific items had been taken into account.

Industry analysts had predicted that Visa would generate earnings of around $2.29 per share, these projections were collected by Thomson Reuters and typically exclude any special items.

Visa's revenue for the quarter showed a healthy increase of 9.9%, rising to $8.78 billion from the $7.99 billion seen last year.

Here's a quick snapshot of Visa's earnings (on a GAAP basis):

- Earnings for Q2 were $4.66 billion, up from $4.26 billion last year.

- Earnings per share (EPS) for Q2 stood at $2.29, compared with $2.03 the previous year.

- Revenue for Q2 was $8.78 billion, a rise from $7.99 billion last year.