Visa Inc Q4 Net Falls 10%: Beats Views; Unveils $5 Billion Buyback

Visa Inc. V beat fourth-quarter expectations Wednesday, posting a 10 percent earnings decline and unveiling a new, $5 billion share buyback. The San Francisco-based credit card company also predicted 2015 percentage growth in earnings "in the mid teens," on revenue growth "in the low double digits." Analysts expect 2015 earnings will grow 14 percent to $10.36 a share on revenue growth of 10 percent to $13.96 billion. Visa gained nearly 4 percent recently in the extended session to $222.98 a share. The recent period included a net charge of $283 million for litigation concerning an alleged conspiracy to fix swipe fees. Net earnings in the recent period fell to $1.07 billion or $1.72 a share, from $1.19 billion, or $1.85 a share. Adjusted income grew 14 percent to $2.18 a share. Revenue increased 9 percent to $3.2 billion, from $2.97 billion a year earlier.