VISA INC A (V) 80.00 -$0.18 (-0.22%) 12:28AM (15 mins delay)

Visa Posts Strong Earnings, Announces share Buyback

Oct 28, 2009 - 9:50 AM EDT

Investors are pleased with Visas quarterly results, sending shares higher in after hours trading last night. Visa posted earnings of $514 million, or 69 cents per Class A share, as compared to a net loss of $356 million, or 45 cents per share, in the same quarter last year. Adjusted earnings ticked even higher, to 74 cents per Class A share, beating Wall Street expectations. Net operating revenue cam in 10 percent higher than the same quarter last year, at $1.9 billion. Visa also announced a $1 billion share buyback program. For MarketNewsVideo.com, I'm Sayoko Murase.

Source: Market News Video (Oct 28, 2009 - 9:50 AM EDT)