ABJ - July 28 - Visa Inc. today announced financial results for the company’s fiscal third quarter 2011 ending June 30. GAAP net income for the quarter, inclusive of a non-cash, non-operating gain related to the company’s revaluation of its Visa Europe put option was $1 billion.

On an adjusted basis, which excludes the revaluation of the company’s Visa Europe put option, net income for the quarter was $883 million, an increase of 23 per cent over the prior year, and diluted class A common stock earnings per share were $1.26, an increase of 29 per cent over the prior year. The weighted-average number of diluted class A common shares outstanding was about $704 million. The company’s adjusted quarterly net income per class A common shares outstanding is a non-GAAP financial measure that is reconciled to its most directly comparable GAAP measure in the accompanying financial tables.

GAAP net operating revenue in the fiscal third quarter of 2011 was $2.3 billion, an increase of 14 per cent over the prior year and driven by strong double-digit growth in service revenues, data processing revenues and international transaction revenues. Currency fluctuations contributed two percentage points of growth towards quarterly net operating revenues.

“Visa delivered another quarter of strong financial and operational performance as we benefitted from growth in global payments volume, and solid cross border and processed transaction growth,” Joseph Saunders, Chairman and CEO, Visa Inc., said in a statement. “As we address the new regulatory landscape, we are prepared to deliver on our financial goals and remain an industry leading growth company in the global transactions space.”