(Includes comments from CEO Joseph Saunders on conference call; updated after-hours trading.)SAN FRANCISCO ( TheStreet) -- Visa ( V) on Wednesday beat Wall Street's earnings expectations, fueled by a large gain from selling shares of its Brazilian affiliate that went public during the quarter. The company reported fiscal-third quarter earnings results of $729 million, or 97 cents a share. Excluding the impact of the sale of shares, Visa would have made $507 million, or 67 cents a share, beating consensus estimates by 3 cents, according to Thomson Reuters. Operating revenue rose by 2% to $1.64 billion for the quarter ending June 30, meeting analysts' estimates. The San Francisco-based company said that even though payments volume was "slightly negative in the U.S.," it continued to grow on a constant dollar basis globally. Processed transactions continued to post solid growth globally, rising 8% to 10.3 billion, it said. "With little real improvement in the economic backdrop, Visa still posted solid operational and financial performance results during the fiscal third quarter," Chairman and CEO Joseph Saunders said. "Throughout this challenging time, the resiliency of our debit products and our credit products overseas continue to exemplify the resiliency and stability of our business model." While Visa increased the total amount of cards carrying the company brand by 6% worldwide vs. a year earlier, Visa was not totally immune to the global recession. The company, which reports some metrics on a one-quarter lag basis, said that as of March 31, growth in payments volume fell 5% from a year earlier to $617 billion. Total card volume fell 7% to $969 billion, Visa said.