Visa Inc announces 23 percent raise in net income.(Financial report)

Visa Inc has announced financial results for the Company's fiscal second quarter 2012 ended March 31. GAAP net income for the quarter, inclusive of one-time non-cash benefit related to the re-measurement of existing net deferred tax liabilities was 1.3 billion dollars.

On an adjusted basis, excluding this non-cash benefit, net income for the quarter was 1.1 billion dollars, depicting an increase of 23 percent over the prior year, and diluted class-A common stock earnings per share were 1.6 dollars with an increase of 30 percent over the prior year.

The weighted-average number of diluted class A common stock outstanding was approximately 676 million. The Company's …