Visa Announces Fiscal Second Quarter 2009 Financial Results
Visa Inc. has announced financial results for the company's fiscal second quarter 2009 ended March 31, 2009. "Net operating revenue in the fiscal second quarter of 2009 was $1.6 billion, an increase of 13% over the prior year, driven by contributions across all revenue categories. Though slightly negative in the U.S., payments volume continued to grow on a constant dollar basis in all other regions globally. Processed transactions continued to post solid growth globally."
"Despite the challenging economy, Visa continued to post strong operational and financial performance during our fiscal second quarter, and we remain confident in delivering our EPS guidance for FY 2009," said Joseph Saunders, Chairman and Chief Executive Officer of Visa Inc. "While expense management and efficiency remain key priorities, we will continue to carefully right-size our pricing structure and further invest in our business with the intent of driving incremental growth and realizing operating advantages."
"The resiliency in our business reflects the strength of Visa's credit, debit, and prepaid products worldwide, which continue to benefit from the ongoing secular shift from cash and check to electronic forms of payments," added Saunders. "These diverse products, combined with further expansion of our processing capabilities worldwide, should continue to benefit our shareholders, clients, and cardholders in the future."
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