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Visa Tops Q3 Estimates (V)

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Visa Tops Q3 Estimates V
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Visa (NYSE: V) released its fiscal third-quarter earnings results after the closing bell on Wednesday.

The company reported earnings per share and revenue that was above Wall Street analysts' consensus estimates. In late trade, Visa shares were last up around 2 percent to $190.66.

Related: Facebook Soars on Q2 Results

Management Commentary

"Visa delivered solid financial performance during our fiscal third quarter and we remain confident in delivering our guidance for fiscal year 2013," said Charlie Scharf, Chief Executive Officer of Visa Inc. "We remain committed and focused on our long-term strategic goal of supporting our issuers, acquirers, merchants and government partners through flexibility and innovation in electronic payments. We are accelerating opportunities to expand our network through mobile, eCommerce and data-driven solutions, while continuing to deliver value to our shareholders."

Q3 Financial Results

For the third-quarter, the company reported net income of $1.23 billion or $1.88 per share, compared to $1.84 billion or $2.74 per share, in last year's corresponding period.

Heading into the report, Wall Street analysts had consensus EPS estimates of $1.80 for the company.

Total revenue in the quarter was $3.00 billion, up from $2.57 billion last year. This also topped consensus revenue expectations of $2.89 billion.

Posted-In: Charlie Scharf visaEarnings News Guidance Management After-Hours Center Movers Best of Benzinga

 

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