Total operating revenues for the fiscal first quarter 2011 ended December 31, 2010 were of $2.23bn, an increase of 14%, compared to $1.96bn for the same period in 2009.
The total operating expenses for the fiscal first quarter of 2011 were $872m, compared to $743m for the same period in the last year.
Visa chairman and CEO Joseph Saunders said that Visa’s first quarter was a great start to the fiscal 2011 as evidenced by strong earnings fueled by continued growth in payments volume, cross border volume and processed transactions globally – the core business.
"Visa is in a strong position to continue to accelerate the migration to electronic payments, particularly in economies where cash and check remain predominant. We are intensely focused on growing Visa’s revenue globally, working alongside our financial institution, merchant, technology and government partners.
"In parallel, we are aggressively investing to expand Visa payment services through new technology platforms, like mobile, eCommerce and money transfer, to extend the reach and value of our global network," Saunders said.
