Visa Earnings: Payment Volumes, Transactions Offset FX Headwinds

Visa reported its fiscal first quarter earnings on Thursday, April 30. The company reported net income of $1.55 billion, about flat on an year-over-year basis. However, the company's net operating revenue increased by 10% year over year on a constant dollar basis to $3.4 billion. The increase in revenue was primarily driven by growth in payment volume, transactions processed and cross border transactions in both the domestic and international market. However, FX headwinds continued to hamper the...