Visa beats Street 1Q forecasts, but dollar remains a drag

January 28, 2016 9:29 PM

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Visa beats Street 1Q forecasts, but dollar remains a drag

NEW YORK (AP) — Visa said Thursday that its fiscal first-quarter results rose 24 percent from a year earlier, as more people spent money on Visa’s namesake credit and debit cards.

The San Francisco-based company reported earnings of $1.94 billion, or 80 cents a share, compared with $1.57 billion, or 63 cents a share, from a year earlier. Excluding a one-time adjustment, Visa earned 69 cents per share, beating estimates by a penny.

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