The following article originally published at 5:51 p.m. on Monday, October 24, was updated with executive comments.

Visa (V) - Get Report  posted higher quarterly profit than analysts estimated amid growth in card spending, partly due to accounts added with the acquisition of its former European division.

The San Francisco-based company's adjusted earnings of 78 cents a share for the three months through September, its fiscal fourth quarter, compared with the 73-cent average of analysts' estimates in a FactSet survey. 

Net income, including one-time charges related to the company's purchase of Visa Europe and severance packages, increased 28% to $1.9 billion. Payment volume climbed 47% to $1.9 trillion.

"We have begun to see the benefits from our acquisition of Visa Europe, and strong cost discipline helped our results," Visa CEO Charles Scharf, who announced his decision to step down from the top job earlier this month, sad in a statement. "We are unwavering in our commitment to invest in client partnership opportunities and the further buildout of our digital payments capabilities."

Scharf's surprise exit shook the company's stock, despite reassurances by both his successor and the board chairman that the current business strategy won't change. Alfred Kelly, who becomes CEO designate on Oct. 31, has 23 years of experience at rival American Express (AXP) - Get Report  and has been a member of Visa's board for two years.

Management said that Scharf's reasons for leaving were entirely personal, highlighting 130% growth in the company's total shareholder return during the CEO's four-year tenure. That's better than both the stock market as a whole and Visa's industry peer group.

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The company's cross-border volume grew by 149% in the quarter, including payments handled by Visa Europe, while total processed transactions jumped 41% to 25.9 billion. 

Also Monday, the company announced a new platform for partners to "integrate with digital wallets," using Visa Checkout, and a deal with Intel (INTC) - Get Report  to increase security for various devices connected to the internet.

Visa Direct previously announced a partnership with FIS and Jack Henry Associates (JKHY) - Get Report  to create card-based peer-to-peer payments, and the payment network struck a deal with PayPal (PYPL) - Get Report  earlier this year under which the online company said it would stop urging its customers to draw money directly from their checking accounts, rather than Visa's credit or debit cards.

After completing the Visa Europe acquisition in late June, the company has a total of 3 billion cards globally. It serves about 40 million merchant outlets and 17,100 financial institutions.

Branded card deals with USAA and Costco (COST) will "drive payment volumes growth in the U.S.," Vasant Prabhu, Visa CFO, said on an earnings call. "However, we expect international payments volume growth to slow down modestly due to weakness in Europe and China."

Visa fell 1.2% to $82.15 after the close of regular trading in New York. The shares previously rose 7.25% this year, beating the broader S&P 500.

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