Visa Inc. (V – Free Report) just released its first quarter fiscal 2017 financial results, posting earnings of 86 cents per share and revenues of $4.5 billion. Currently, V is a #3 (Hold) on the Zacks Rank, and is up 2.92% to $82.30 per share in trading shortly after its earnings report was released.

Beat earnings estimates. The company posted earnings of xx cents per share, surpassing the Zacks Consensus Estimate of 78 cents per share.

Beat revenue estimates. The company saw revenue figures of $4.5 billion, topping our consensus estimate of $4.278 billion and gaining 25% year-over-year.

For Q1, payments volume growth came in at $1.9 trillion, up 47% year-over-year on a constant dollar basis for the three months ended September 30, 2016. Investors should note that fiscal first quarter service revenue is recognized here.

Looking ahead, Visa affirmed its financial outlook for fiscal 2017 (in GAAP metrics), and annual net revenue growth is expected in the range of 16% to 18% on a nominal dollar basis.

“Visa’s fiscal 2017 is off to a terrific start with a strong first quarter of revenue and earnings growth driven by accelerating growth in payments volume, cross-border commerce and processed transactions in virtually all regions around the world,” said Alfred F. Kelly, Jr., Chief Executive Officer of Visa Inc.

Here’s a graph that looks at Visa’s price, consensus, and EPS surprise:

Visa Inc. Price, Consensus and EPS Surprise

Visa Inc. Price, Consensus and EPS Surprise | Visa Inc. Quote

VISA operates the world’s largest retail electronic payments network and is one of the most recognized global financial services brands. Visa facilitates global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities.