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$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.


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.
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