Investing.com - Visa reported better-than-expected fiscal first quarter earnings and revenue ahead of Thursday’s opening bell, sending its shares higher in pre-market trade.
Visa said earnings per share came in at USD2.20 in the first quarter, above expectations for earnings of USD2.16 per share. The credit card giant’s first quarter net operating revenue totaled USD3.16 billion, beating forecasts for revenue of USD3.13 billion.
Upbeat sales figures were driven by strong growth in service revenues, data processing revenues and international transaction revenues.
Charlie Scharf, Chief Executive Officer, said, “Visa delivered a strong fiscal first quarter, posting solid revenue, net income and earnings growth. We continue to focus on embracing new partners and new technology which will make our network the one of choice.”
The company also affirmed its financial outlook for the fiscal full-year 2014.
Following the release of the report, Visa shares jumped 3.2% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets remained higher. The Dow Jones Industrial Average futures indicated a gain of 0.45% at the open, S&P 500 futures pointed to an increase of 0.5%, while the Nasdaq 100 futures indicated a rise of 0.85%.
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