RTTNews | Jan 27, 2022 04:12PM EST

16:12 Thursday, January 27, 2022 (RTTNews.com) - Visa Inc. (V) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $3.96 billion, or $1.83 per share. This compares with $3.13 billion, or $1.42 per share, in last year's first quarter.

Excluding items, Visa Inc. reported adjusted earnings of $3.90 billion or $1.81 per share for the period.

Analysts on average had expected the company to earn $1.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 24.1% to $7.06 billion from $5.69 billion last year.

Visa Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $3.96 Bln. vs. $3.13 Bln. last year.-EPS (Q1): $1.83 vs. $1.42 last year.-Analyst Estimate: $1.70-Revenue (Q1): $7.06 Bln vs. $5.69 Bln last year.

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