Visa Inc. Files 10-K Annual Report, Amends S-1 Registration
Visa Inc. has filed a Form 10-K Annual Report with the SEC as well as the first amendment to its previously filed Form S-1 Registration Statement.
Visa reported revenues of $5.19 billion for its fiscal year ended Sept. 30, 2007, up 33 percent year over year. Visa had a net loss for the year of $861 million vs. a profit of $453 million in 2006.
According to Visa, the loss was largely due to a litigation provision of $2.7 billion "associated with amounts required to settle the American Express litigation and management’s liability estimate related to the Discover litigation and other matters."
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