Visa (NYSE:V) earnings for the payment card company’s fiscal first quarter of 2020 have V stock falling after markets closed on Thursday. This is after reporting adjusted earnings per share of $1.46, which matches Wall Street’s estimates. The negative news is that revenue of $6.05 billion misses analysts’ estimates of $6.08 billion.
Here’s a more in-depth look at the most recent Visa earnings report.
- Adjusted per-share earnings are up 12.31% from $1.30 during the same time last year.
- Revenue for the quarter comes in 9.80% above the $5.51 billion reported in fiscal Q1 2019.
- Operating income of $4.02 billion is an 8.07% increase YoY from $3.72 billion.
- The Visa earnings report also includes a net income of $3.27 billion.
- That’s a 9.73% boost from its net income of $2.98 billion during the same period of the year prior.
Alfred Kelly, Jr., Chairman and CEO of Visa, says this about the fiscal Q1 V stock earnings report.
“Our fiscal first quarter 2020 reflected stable and robust business growth around the world. We continue to have great success in building and renewing partnerships and growing our acceptance network. We are excited about the recent announcement to acquire Plaid which will enhance the growth trajectory of our business well into the future.”
The Visa earnings report also covers its outlook for fiscal 2020. This includes adjusted EPS growth in the mid-teens and revenue growth in the low double-digit range.
V stock was down 2.45% after-hours Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.