Visa Beats Q1 Views; Declares 4-For-1 Split
Visa Inc (NYSE: V) beat fiscal first-quarter Street estimates and declared a four-for-one stock split.
The New York-based credit card network operator changed hands recently up more than 3 percent to $257 a share.
Visa reiterated a 2015 outlook calling for earnings growth by a percentage "in the mid teens," on revenue growth of "low double digits," excluding a negative currency translation of two points.
Wall Street expects 2015 earnings of $10.38 a share, on revenue of $13.06 billion, up from 2014 earnings of $8.62 a share, on revenue of $12.7 billion.
During the recent first quarter, payment volume grew 11 percent to $1.2 trillion, while the number of processed transactions increased 10 percent to 17.6 billion.
Net income for the recent period grew to $1.57 billion, or $2.53 a share, from $1.41 billion, or $2.20 a share in the year-earlier period.
Revenue increased to $3.38 billion, from $3.16 billion last year.
Analysts expected earnings of $2.49 a share on revenue of $3.34 billion.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.