Categories AlphaGraphs, Earnings, Finance

Visa shares surpass 52-week high on strong Q3 results

Credit card giant Visa (V) reported upbeat results for its third quarter ending June 30, 2018. The company’s shares, which hit a new all-time high on Wednesday’s regular trading session, continued to trade in the positive territory after the bell also.

Visa’s adjusted earnings jumped about 40% year-over-year to $1.20 per share on revenue growth of 15% to $5.2 billion. Analysts viewed that Visa’s earnings would be $1.08 per share on revenue of about $5.06 billion. GAAP net income swelled 13% to $2.3 billion or $1.00 per share. The revenue growth in the quarter was helped by continued growth in payments volume, cross-border volume, and processed transactions.

Visa third quarter 2018 earnings

Looking ahead, the payments technology company expects its annual net revenue to grow in low double-digits on a nominal basis for its fiscal year 2018.

The company had a litigation charge of $600 million related to the interchange multidistrict litigation case in the recently ended quarter which increased the GAAP operating expenses by 53% to $2.4 billion.

Related: What to expect from Mastercard earnings

Visa’s rival Mastercard (MA) is set to report its quarterly results on Thursday after the bell. Last week, another competitor American Express (AXP) posted mixed results for its recently concluded quarter. Visa’s stock had climbed about 25% so far in 2018 and about 40% in the past one year.

Related: Visa Q2 2018 earnings

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top