Visa Charges Forward With Another Strong Quarter
Visa Inc. (NYSE: V) released its most recent quarterly report after the markets closed on Wednesday. The company posted $1.11 in earnings per share (EPS) on $ in revenue, versus consensus estimates that called for $1.02 in EPS on $4.81…
Visa Inc. (NYSE: V) released its most recent quarterly report after markets closed Wednesday. The company posted $1.11 in earnings per share (EPS) on $5.07 billion in revenue versus consensus estimates that called for $1.02 in EPS on $4.81 billion in revenue. The fiscal second quarter from last year had $0.86 in EPS on $4.48 billion in revenue.
Payments volume for the three months ended December 2017, on which the fiscal second quarter service revenue is recognized, grew 10% from last year on a constant dollar basis. And payments volume for the three months ended March 2018 grew 11% year over year on a constant dollar basis.
Cross-border volume growth was 11% on a constant dollar basis.
Total processed transactions for the quarter were 29.3 billion, a 12% increase from last year.
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Looking ahead to the fiscal full year, the company expects to see net revenue growth in the low double digits on a nominal basis and EPS growth in the “high-20’s”. There are consensus estimates calling for $4.40 in EPS on $20.18 billion in revenue for the 2018 full year.
Alfred F. Kelly, CEO of Visa, commented:
Visa had a terrific second quarter. Revenue growth was better than anticipated and many of our key business drivers accelerated compared to the first quarter, including strong growth in cross-border and payments volume. The fundamentals of our core business remain robust around the world and our team continues to execute against the company’s long-term growth strategy. Based on our first half results, we are raising our revenue and profit outlook for the year.
Shares of Visa closed Wednesday at $121.20, with a consensus analyst price target of $140.15 and a 52-week range of $90.98 to $126.88. Following the announcement the stock was up about 2% at $123.50 in the after-hours session.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
