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Visa (V) Q3 Earnings Soar Past Estimates, Shares Higher
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Visa (V - Free Report) Inc. just reported its third quarter fiscal 2017 financial results, posting earnings of 86 cents per share and revenues of $4.6 billion. Currently, V is a #2 (Buy) on the Zacks Rank, and is up 1.16% to $99.25 per share in trading shortly after its earnings report was released.
Visa:
Beat earnings estimates. The company posted earnings of 86 cents per share, surpassing the Zacks Consensus Estimate of 80 cents per share. GAAP net income was $2.1 billion.
Beat revenue estimates. The company saw revenue figures of $4.6 billion, topping our consensus estimate of $4.36 billion and increasing 26% year-over-year. This was driven by the inclusion of Europe and continued growth in payments volume, cross-border volume, and processed transactions.
Payments volume growth, on a constant dollar basis, grew 38% from the prior year at $1.9 trillion.
Total Visa processed transactions were 28.5 billion during the third quarter, a 44% increase over the year ago period.
Visa reaffirmed its fiscal full-year 2017 outlook, and anticipates annual operating margin in the mid 60s and an effective tax rate in the mid 40s on a GAAP basis.
“I’m pleased to report Visa’s fiscal third quarter results which reflect strong growth in payments volume, cross-border volume, and processed transactions, which were powered by economic tailwinds in the U.S. and globally,” said Alfred F. Kelly, Jr., Chief Executive Officer of Visa Inc. “Our results and growth are a reflection of our strategy to pursue the conversion of cash and checks to electronic payments in partnership with our clients around the world.”
Here’s a graph that looks at Visa’s price, consensus, and EPS surprise:
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.
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Visa (V) Q3 Earnings Soar Past Estimates, Shares Higher
Visa (V - Free Report) Inc. just reported its third quarter fiscal 2017 financial results, posting earnings of 86 cents per share and revenues of $4.6 billion. Currently, V is a #2 (Buy) on the Zacks Rank, and is up 1.16% to $99.25 per share in trading shortly after its earnings report was released.
Visa:
Beat earnings estimates. The company posted earnings of 86 cents per share, surpassing the Zacks Consensus Estimate of 80 cents per share. GAAP net income was $2.1 billion.
Beat revenue estimates. The company saw revenue figures of $4.6 billion, topping our consensus estimate of $4.36 billion and increasing 26% year-over-year. This was driven by the inclusion of Europe and continued growth in payments volume, cross-border volume, and processed transactions.
Payments volume growth, on a constant dollar basis, grew 38% from the prior year at $1.9 trillion.
Total Visa processed transactions were 28.5 billion during the third quarter, a 44% increase over the year ago period.
Visa reaffirmed its fiscal full-year 2017 outlook, and anticipates annual operating margin in the mid 60s and an effective tax rate in the mid 40s on a GAAP basis.
“I’m pleased to report Visa’s fiscal third quarter results which reflect strong growth in payments volume, cross-border volume, and processed transactions, which were powered by economic tailwinds in the U.S. and globally,” said Alfred F. Kelly, Jr., Chief Executive Officer of Visa Inc. “Our results and growth are a reflection of our strategy to pursue the conversion of cash and checks to electronic payments in partnership with our clients around the world.”
Here’s a graph that looks at Visa’s price, consensus, and EPS surprise:
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.
3 Top Picks to Ride the Hottest Tech Trend
Zacks just released a Special Report to guide you through a space that has already begun to transform our entire economy...
Last year, it was generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. Download Report with 3 Top Tech Stocks >>