Visa (NYSE:V) reported its latest quarterly earnings results after the bell on Wednesday, which sent shares sliding slightly late in the day despite the company’s strong earnings performance.
The payments processing company brought in net income of $2.3 billion for its third quarter of fiscal 2018, amounting to roughly $1 per share. The figure is better than the company’s net income of $2.1 billion from the year-ago quarter, amounting to 86 cents per share at the time.
On an adjusted basis, Visa brought in earnings of $1.20 per share, ahead of the 86 cents per share from the year-ago quarter. Analysts were calling for adjusted earnings of $1.09 per share, according to data compiled by FactSet.
The company also raked in revenue of $5.2 billion for its third quarter, ahead of the $4.6 billion that it amassed during the year-ago period. Wall Street was calling for revenue of $5.1 billion in its consensus estimate, according to data compiled by FactSet, which surveyed analysts.
Visa’s payments volume increased by 11% compared to the year-ago quarter, which is below the 12.4% that analysts were calling for. The company also reaffirmed its full-year outlook of roughly low double-digit nominal revenue growth, while the company also expects about one percentage point of positive foreign-currency impact.
V stock was up about 1.9% during regular trading hours Wednesday in anticipation of the company’s latest quarterly earnings results, which sent shares sliding a fraction of a percentage after the bell.
