Oct 27 · 7:49:00 PM · Source: Company News Release

Visa Inc. reported fiscal year fourth-quarter GAAP net income of $514 million or $0.69 per class A common stock, compared to a loss of $356 million or $0.45 per class A common stock in the prior year quarter. Total operating revenues for the quarter were $1.88 billion, compared to $1.71 billion in the prior year quarter.
Revenue was higher than analysts' estimates and the company company announced that its board has authorized a $1 billion share repurchase plan. The authorization will be in place through September 30, 2010, and is subject to extension or expansion at the determination of Visa's Board of Directors.

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by Larry Etter