For the period ended Dec. 31, Visa earned $3.27 billion compared with $2.98 billion in the year-earlier quarter. Per-share earnings gained 12% to $1.46 from $1.30 as shares outstanding dropped 2.2% to 2.24 billion.
The latest share figure matched the consensus estimate of analysts surveyed by FactSet.
Revenue climbed to $6.05 billion from $5.51 billion. Analysts were looking for $6.08 billion, according to FactSet.
Operating expense ran up 14% to $2.04 billion from $1.79 billion, as Visa amortized acquired intangible assets and accounted for one-time acquisition-related costs.
The company benefited from strong holiday spending and the continuing surge in Internet retail purchases.
The results “reflected stable and robust business growth around the world,” Visa CEO Alfred Kelly said in a statement.
He also expressed enthusiasm over Visa’s agreement to acquire financial technology company Plaid for $5.3 billion, which was announced earlier this month. Plaid offers software that gives financial-service apps access to financial accounts.
For fiscal 2020 as a whole, Visa forecast that revenue will grow in low double digits, earnings per share will rise in the mid-teens and operating expense will climb in the mid-single digits.
At last check, Visa were off 3.2%. The shares finished Thursday's regular session at $208.21, up 1.6%.
The author of this story owns shares of Mastercard.