Visa Inc. (V) announced adjusted quarterly net income of $1 billion on Wednesday, up nearly 14% from the same period last year, as revenues grew by 15%.

The Foster City, Calif., company said that its diluted class A common earnings per share was $1.54, excluding a special item related tax reserves that increased net income by $627 million. The results beat consensus estimates of analysts by a four cents, according to Bloomberg.

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