Visa reported larger-than-expected profits

The global leader on the market of credit card payment services, the Visa Inc. increased its profits exceeding the expectations in the last quarter of  2010.

The American company's after tax profit was 884 million USD in the first quarter of the fiscal year ended with December, exceeding the one year earlier by 16 percent. The profit per share increased from 1.02 USD to 1.23 USD. Analysts had lower profit expectations of 1.21 USD per share – reports MTI.