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29/04/2010 -
Visa announced its second quarter financial results on Wednesday, displaying a net income of $713 million and net operating revenue of $2 billion.The net income is slightly down from the company's first quarter take of $763 million, but the revenue is up 19 percent from the previous year. The second quarter, which ended on March 31, showed positive increases from the previous year in payments volume growth (8 percent increase), cross border volume growth (12 percent) and service revenues (10 percent) - especially data processing revenues, which rose 34 percent.
"Visa delivered strong financial performance during our fiscal second quarter and we remain confident in delivering our guidance for fiscal year 2010," said Joseph Saunders, Visa's chairman and CEO.
The card company processed 14 percent more total transactions this quarter over the previous year's quarter, totaling 10.6 billion. The number clearly reflects an increase in overall payment processing including the transactions fed by its online sector VisaNet.
Visa's 60.25 percent global market share in 2008 ranked first among all general purpose credit cards, Creditcards.com reported.
