Visa Inc. Reports Fiscal Second Quarter 2008 Results
Visa Inc. has reported financial results for its second fiscal quarter ended March 31, 2008. Net operating revenue was $1.5 billion with Visa's payments volume growing 19% year over year to $681 billion.
"We are very pleased with our financial results for our first quarter as a public company. Despite a challenging economic environment, Visa recorded strong growth in payments volume and transactions globally and across our diverse suite of products -- a trend which is continuing into the fiscal third quarter," said Joseph Saunders, Visa's chairman and chief executive officer. "Our performance is a testament to Visa's business model and economic resiliency, as we continue to lead the migration from cash and checks to electronic payments."
"Visa is focused on growing our business globally by extending our industry-leading processing services, expanding our products to new geographies, and further strengthening our valuable relationships with financial institutions and merchants who are critical to our success," said Mr. Saunders.
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