Visa 1Q results top Wall Street's expectations

Visa's fiscal first-quarter is up 9 per cent, benefiting from solid payments volume growth. Its performance beat analysts' expectations.
The world's largest processor of debit and credit card payments says it earned USD 1.41 billion, or USD 2.20 per share, for the three months ended December 31.
That tops the USD 2.16 per share that analysts expected. Operating revenue rose 11 per cent to USD 3.16 billion, helped by higher revenue for service, data processing and international transactions.
Wall Street was looking for USD 3.13 billion in revenue, according to FactSet.
Visa Inc. Reaffirmed its fiscal 2014 guidance for mid-to-high teens growth in earnings per share and a low double-digit increase in revenue, on a constant dollar basis.

Shares of the San Francisco company are up nearly 2 per cent to USD 220.54 in morning trading.