On Nov 22, 2016, we issued an updated research report on Visa Inc. (V - Free Report) . This San Francisco, CA-based payment network giant’s latest quarterly results continued to depict strength in several areas, including solid revenue growth momentum.
Visa closed fiscal 2016 (ended Sep 30) with robust performance despite a challenging revenue environment amid volatile oil and commodity prices, strong dollar and concerns over the economic slowdown in China.
For fiscal 2016, adjusted earnings per share (EPS) of $2.84 increased 8% year over year. Revenues grew 9% year over year to $15.1 billion. The company witnessed continued growth in service revenues, driven by higher nominal payments volume, while overall growth in processed transactions led to increased data processing revenues. Also, international transaction revenues climbed on the back of cross-border volume growth.
Shares of Visa have gained around 3% in the past three months.
VISA INC-A Price