SAN FRANCISCO – Visa Inc. yesterday reported net income for its fiscal fourth quarter of $514 million, compared to a loss of $365 million for last year’s fourth quarter – when the cards giant made a large payment on an antitrust settlement.
This year’s fourth quarter results do not include a $682 million payment Visa made on an antitrust settlement on Oct. 5 in the so-called merchants suit.
For 2009, fourth quarter revenues were up 10% for the quarter to $1.9 billion, driven primarily by strong contributions from data processing revenues as processed transactions grew 9%.
Payments volume declined by 2% compared to the fourth quarter last year, and total volume declined by 3%. Total processed transactions, which represent transactions processed by VisaNet for the three months ending Sept. 30, totaled 10.5 billion, a 9% increase over the prior year.
For the full fiscal year, Visa reported a 10% increase in revenues to $6.9 billion, and a tripling in net income to $2.3 billion.
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