Visa (NYSE:V) reported its quarterly earnings results late on Wednesday and it was a mixed bag in store for the credit card giant as its profit was stronger than what the Wall Street consensus estimate called for and its revenue grew year-over-year, yet it failed to beat expectations, playing a role in sending V stock declining after hours.
The Foster City, Calif.-based financial services business said that for its second quarter of its fiscal 2019, it brought in net income of $3 billion, or $1.31 per share, marking a 15.4% increase when compared to the $2.6 million, or $1.11 per share, it brought in during the same period in its fiscal 2018.
Visa’s profit was stronger than the Wall Street guidance, as analysts who were polled by FactSet saw the business bringing in earnings of $1.24 per share. The company added that its revenue for the last three months of the first half of 2019 arrived at $5.5 billion, roughly 7.8% stronger than the $5.1 billion from the same period in its fiscal 2018.
The company’s revenue was in line with what analysts called for, per FactSet. For its fiscal 2019, Visa reaffirmed its forecast, which includes annual net-revenue growth in the low single digits on a nominal basis.
V stock is down about 1.4% after the bell Wednesday off the heels of its mixed results. Shares had been dipping a fraction of a percentage during regular trading hours.
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