SAN FRANCISCO -- Visa beat Wall Street's expectations for the latest quarter, sending its stock higher in after-hours trading.

The San Francisco-based payments processing company made $1.7 billion for the fiscal fourth quarter, which covered July through September, or $2.47 per share. That was nearly double the $880 million, or $1.27, that it made in the same period a year ago.

After adjusting for one-time items, earnings were $1.54. That beat the predictions of analysts polled by FactSet, who had expected $1.50.

Revenue was $2.73 billion for the quarter, up 15 percent. That was also better than the $2.68 billion that analysts had predicted.

Visa makes money by processing card transactions. Its results provide insight into how much consumers are spending. Visa's stock rose about 1.5 percent in after-hours trading.



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