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Visa shares fall following quarterly results

By Carla Mozee, MarketWatch

Last Update: 4:41 PM ET Apr 28, 2008

SAN FRANCISCO (MarketWatch) — Shares of Visa Inc. fell more than 3% in Monday’s
after-hours session following the release of the credit-card issuer’s first
financial results since going public last month.

Visa (V) shares were down 3.3% at $73.29. The company said first-quarter net
income rose 28% to $314 million, or 39 cents a share. In the year-ago quarter, it
made $246 million, but the company said there were no comparable results per
share because the company was still privately held.

Adjusted for a normalized tax rate and excluding litigation, restructuring and
purchase amortization, Visa said it made $401 million, or 52 cents a share. Net
operating revenue in the fiscal second quarter 2008 was $1.5 billion.

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Technorati Tags: Amortization, Carla, Comparable Results, Credit Card Issuer, Litigation, Marketwatch, Net Income, Quarterly Results, Restructuring, San Francisco, Second Quarter, Shares, Tax Rate, Visa Inc