Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
$V scores a beat again

Visa Inc V just released their first quarter fiscal 2016 earnings results, posting earnings of $0.69 and revenue of $3.6 billion.

Currently, Visa has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Visa:

1. Beat earnings estimates. The company posted $0.69, beating our Zacks Consensus Estimate of $0.68. This number excludes $0.11 from nonrecurring items.

2. Beat revenue estimates. The company saw revenue figures of $3.6 billion, surpassing our estimate of $3.558 billion, an increase of 5% nominally or 8% on a constant dollar basis over the prior year.

3. Posted adjusted net income of $1.7 billion

4. “We continue to be pleased with our financial performance given the uneven global economy and the ongoing negative effects of the strong U.S. dollar. While we continue to see relatively strong payments and volume growth, these factors have meaningfully reduced our cross-border volume and revenue growth,” said Charlie Scharf, Chief Executive Officer.

5. V was up $1.68, or 2.42%, to $71.01 as of 4:20 PM ET in after hours trading shortly after its earnings report was released.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.