Visa has reported financial results for the fiscal third quarter 2009 ended June 30, 2009. On an adjusted basis, net income for the quarter was $744 million, or $0.98 per diluted class A common share. Excluding the impact from the sale of the company’s equity interest in VisaNet do Brasil, adjusted quarterly net income was $507 million or $0.67 per diluted class A common share.
The net income for the quarter was $729 million, or $0.97 per diluted class A common share. Net operating revenue in the fiscal third quarter of 2009 was $1.6 billion, an increase of 2% over the prior year. Though slightly negative in the US, payments volume grow on a constant dollar basis in all other regions globally.
Visa operational performance highlights for the fiscal third quarter, as measured by business activity through March 31, 2009, include: Payments volume growth, on a nominal basis, was a negative 5% over the prior year at $617 billion; total volume, on a nominal basis and inclusive of cash volume, was $969 billion, a 7% decline over the prior year; and total cards carrying the Visa brands rose 6% worldwide over the prior year to over 1.7 billion.
Adjusted total operating expenses were $804 million for the fiscal third quarter, a 9% decrease from the prior year’s adjusted total operating expenses of $883 million. Total operating expenses on a GAAP basis were $824 million for the quarter, a 15% decrease from the prior year.
