Visa Inc. Reports Strong Fiscal First Quarter 2017 Results

Business Wire press release ---Visa Inc. (NYSE:V) announced financial results for the Company's fiscal first quarter 2017, ended December 31, 2016. GAAP net income for the quarter was $2.1 billion or $0.86 per share, an increase of 7% and 7% respectively, over the prior year's results. Exchange rate shifts versus the prior year negatively impacted earnings per share growth by approximately 3 percentage points. Excluding a $255 million non-cash, non-operating income item recorded upon the remeasurement of the Visa Europe put option in fiscal first quarter 2016, net income and earnings per share for the first fiscal quarter 2017 increased 23% and 23%, respectively, over the prior year's adjusted results. All references to earnings per share assume fully-diluted class A share count, inclusive of series B and C convertible participating preferred stock, unless otherwise noted. The Company's adjusted quarterly net income and earnings per share of class A common stock are non-GAAP financial measures that are reconciled to their most directly comparable GAAP measure. For more on Visa Inc. reporting strong fiscal first quarter 2017 results click on the picture below to read the release.