Visa Inc. on Oct. 27 reported net income of $774 million for the fiscal fourth quarter ended Sept. 30, up 50.6% from $514 million during the same period a year earlier. Net operating revenue rose 12.8%, to $2.12 billion from $1.88 billion, the company said. Currency fluctuations boosted revenues during the quarter by 1%.
Increased revenues from core services, data processing and international transactions helped to boost Visa’s results during the quarter. Visa’s service revenue grew 12.9%, to $912 million from $808 million; data-processing revenues rose 15.5%, to $840 million from $727 million; and revenue from international transactions grew 22.1%, to $619 million from $507 million.
Visa plans to continue to invest in initiatives and investments to “grow our core and emerging product portfolios globally, innovate into new payments channels, and integrate our recent acquisition of CyberSource,” Joseph Saunders, Visa chairman and CEO, said in a statement.
