Visa Inc said on Wednesday quarterly profit rose by 40 percent, on a higher volume of global payments and a gain from revaluing its Visa Europe put option.

San Francisco-based Visa reported fiscal third-quarter net income of $1 billion, or $1.43 per class A common share, up from $716 million, or 97 cents per share, a year ago.

Analysts estimated the credit card payment processor would report net income of $1.23 per share, according to Thomson Reuters I/B/E/S.

Visa shares closed down 1.6 percent, or $1.45, at $87.75 on the New York Stock Exchange before results were announced.

(Reporting by Joe Rauch; Editing by Steve Orlofsky)

Corrects paragraph 1 by changing '$1 billion gain' to a 'gain' from revaluing its Visa Europe put option.