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Visa Inc. Q2 Profit Rises; Net Revenues Up 7% - Quick Facts

Visa Inc. (V) reported that its second quarter earnings per class A common stock increased to $1.38 from $1.31, prior year. Non GAAP earnings per share was $1.39 compared to $1.28, last year. On average, 32 analysts polled by Thomson Reuters expected the company to report profit per share of $1.35 for the quarter. Analysts' estimates typically exclude special items. Non-GAAP earnings per share growth was approximately 9% on a constant-dollar basis.

Second quarter net revenues increased to $5.85 billion from $5.49 billion, previous year. Analysts expected revenue of $5.75 billion for the quarter. Net revenues growth was approximately 8% on a constant-dollar basis. Payments volume for the three months ended March 31, 2020, grew 5% over the prior year on a constant-dollar basis.

Total processed transactions, which represent transactions processed by Visa, for the three months ended March 31, 2020, were 34.9 billion, a 7% increase over the prior year.

Cash, cash equivalents and investment securities were $13.2 billion as of March 31, 2020.

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