Visa Inc stock in the after hours gained after the company reported 51 cents per share earnings and raised its outlook for operating margins.
Visa Inc., the largest payment processor reported third quarter revenue rise of 18% to $1.613 billion and net income surge of 41.1% to $422 million as more people use debit and credit cards for purchases. Earnings per share jumped to 51 cents and adjusted earnings rose to 59 cents per share. Visa raised its outlook for operating margins for the fiscal 2008 to mid 40% and in the years 2009 and 2010 to mid-to-high 40%.
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