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Visa Shares Soar After Beating Estimates on Payment Volume Growth

Shares of Visa climbed in Thursday trading after the credit card company reported fiscal fourth quarter earnings that handily beat analyst estimates.

Shares of Visa climbed in Thursday trading after the credit card company reported fiscal fourth quarter earnings that handily beat analyst estimates, boosted by payments' volume growth and service and data processing revenues. Visa reported earnings of $2.18 a share on revenue of $3.23 billion, topping the Thomson Reuters consensus estimate forecasting earnings of $2.10 a share on $3.19 billion. Also boosting shares was news that China plans to open up its market for clearing domestic bank card transactions. Although the company said its near-term outlook remains cautious, it forecast fiscal full-year 2015 revenue growth in the low double digits, topping the consensus estimate.

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