Visa, the largest credit card processor reported its second quarter earnings. The first quarterly earnings as a public company showed healthly gains.
Visa reported after the close, second quarter net income of $1.45 billion and net income of $314 million compared to $246 million. Earnings per share were 39 cents or adjusted earnings per share were 52 cents. Visa priced its initial public offering at $44 on March 18 of this year. The stock had run up in anticipation of earnings and fell 5% in the after hours of trading.
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