Visa Stock Gains After Hours on Q4 Earnings Beat
Visa stock (NYSE:V) had a mixed hump day as the company’s shares declined during regular trading hours before surging late in the day as the credit card company posted its latest quarterly earnings results, which came in well ahead of what analysts were calling for in their consensus estimate.
The company said that for its fourth quarter of the fiscal year 2018, it brought in earnings of $2.85 billion, which amounted to roughly $1.23 per Class A share. The figure is a considerable improvement over what the company brought in during its fourth quarter of its fiscal year 2017, when it amassed net income of $2.14 billion, or 90 cents per share.
Visa’s earnings for the period came in at $1.21 per share on an adjusted basis, which was stronger than the $1.20 per share that analysts polled by FactSet were calling for. The credit card company added that for its fourth quarter, it raked in revenue of $5.43 billion, which is stronger than the $4.86 billion that it brought in during its year-ago quarter.
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The company’s revenue was stronger than projected as FactSet called for sales of $5.44 billion.
V stock was down about 3.6% during regular trading hours in anticipation of the company’s quarterly earnings results to close off its fiscal 2018. Visa shares recovered after the bell, gaining about 1.7% following the company’s quarterly showing, which included an earnings beat and revenue that came in well ahead of the mark.
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