Visa Inc V just released their first quarter fiscal 2016 earnings results, posting earnings of $0.69 and revenue of $3.6 billion.
Currently, Visa has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
1. Beat earnings estimates. The company posted $0.69, beating our Zacks Consensus Estimate of $0.68. This number excludes $0.11 from nonrecurring items.
2. Beat revenue estimates. The company saw revenue figures of $3.6 billion, surpassing our estimate of $3.558 billion, an increase of 5% nominally or 8% on a constant dollar basis over the prior year.
3. Posted adjusted net income of $1.7 billion
4. “We continue to be pleased with our financial performance given the uneven global economy and the ongoing negative effects of the strong U.S. dollar. While we continue to see relatively strong payments and volume growth, these factors have meaningfully reduced our cross-border volume and revenue growth,” said Charlie Scharf, Chief Executive Officer.
5. V was up $1.68, or 2.42%, to $71.01 as of 4:20 PM ET in after hours trading shortly after its earnings report was released.
Here’s a graph that looks at Visa’s long-term quarterly net income and profit margin:
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. Visa was founded in 1958 and is headquartered in Foster City, California.
Check back later for our full analysis on Visa’s first quarter earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
VISA INC-A (V): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research