Visa Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2014. For the quarter, the company reported total operating revenues of $3,382 million compared to $3,155 million a year ago. Operating income was $2,238 million compared to $2,077 million a year ago. Income before income taxes were $2,262 million compared to $2,083 million a year ago. Net income was $1,569 million or $2.53 per diluted class A common stock compared to $1,407 million or $2.20 per diluted class A common stock a year ago. Diluted earnings per share on class B common stock were $1.04 against $0.93 a year ago. Diluted earnings per share on class C common stock were $2.53 against $2.20 a year ago. Net cash provided by operating activities were $1,761 million compared to $1,541 million a year ago. Purchase of property, equipment, technology and intangible assets were $104 million compared to $120 million a year ago.

The company reaffirmed financial outlook for the fiscal full-year 2015. The company expects constant dollar revenue growth of low double digits, with an expectation of 2 percentage points of negative foreign currency impact; annual operating margin of mid 60s; tax rate of low 30s, annual diluted class A common stock earnings per share growth of mid-teens; and annual free cash flow greater than $6 billion.