Visa Shares Dip Following Q3 Earnings
Shares of Visa (NYSE: V) are trading down 2.8 percent in Thursday's after-hours session following the release of its third quarter earnings report.
Revenue: $3.16 billion, up five percent year over year.
EPS: $2.17, up 15 percent from the same quarter last year.
Total processed transactions: $16.7 billion, up 11 percent year over year.
2014 Full-Year Guidance
Operating margins low to mid 60s
Net revenue growth of nine to 10 percent with two percentage point negative impact from foreign currency.
Diluted class A common EPS growth of 17.5 - 18.5 percent.
CEO Charlie Scharf said: “As expected, revenue growth was affected by a strong U.S. dollar and tepid growth from cross-border transactions. More importantly, global payments volume and processed transactions remained healthy and strong. While some of the headwinds will likely continue in the short-term, we are confident our investments in products such as Visa Checkout, new technologies like tokenization, and new relationships with financial institutions and merchants will continue to drive double-digit revenue growth over the long-term.”
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