{"id":5543,"date":"2023-10-26T07:21:24","date_gmt":"2023-10-26T07:21:24","guid":{"rendered":"https:\/\/infundpros.com\/investment\/visas-outlook-comes-in-better-than-feared-but-stock-dips-after-earnings\/"},"modified":"2023-10-26T07:21:25","modified_gmt":"2023-10-26T07:21:25","slug":"visas-outlook-comes-in-better-than-feared-but-stock-dips-after-earnings","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=5543","title":{"rendered":"Visa\u2019s outlook comes in better than feared, but stock dips after earnings"},"content":{"rendered":"
\n

Visa Inc. reported quarterly results Tuesday that topped Wall Street views, but its shares were headed lower in the extended session. <\/p>\n

The payment-technology company also called for low-double-digit revenue growth on an adjusted constant-dollar basis for the new fiscal year, coming in ahead of what some had been fearing from Visa
\n V,
\n +0.94%<\/bg-quote>
\n coming into the report. <\/p>\n

\n

Still, analysts couldn\u2019t agree on whether the forecast was a relief or a high hurdle for the future. <\/p>\n

\u201cInvestors had been expressing concerns that Visa would guide to [high-single-digit constant-currency] growth, and we see this\u2026guide as a clearing event,\u201d Wolfe Research\u2019s Darrin Peller wrote in a note to clients. <\/p>\n

But Mizuho\u2019s Dan Dolev worried that the company may have set the bar too high for itself. \u201cWhile results were strong, we worry that top-line guidance of low-double-digit [constant-currency] growth may prove overly ambitious as FY24 continues,\u201d he wrote, noting that inflation benefits from last fiscal year might not manifest in the same way.<\/p>\n

\u201cWe expect a muted stock reaction, as strong results are met with guide\u2019s high bar and decelerating US payment volumes in October,\u201d he wrote. Visa shares were off about 1% in after-hours trading following the call. <\/p>\n

Chief Financial Officer Chris Suh, for his part, called Visa\u2019s outlook \u201cbalanced.\u201d The fundamentals of Visa\u2019s business, as reflected in payment volume and processed transactions, \u201cremain healthy and quite stable,\u201d he told MarketWatch. <\/p>\n

Visa saw a 9% increase in payments volume for the September quarter, along with a 10% boost in processed transactions. <\/p>\n

Visa disclosed that U.S. debit and credit volumes were each up 5% in the first three weeks of October, marking a sequential drop from September that Suh attributed to a \u201cdays-mix\u201d impact in September and falling October gas prices. <\/p>\n

\u201cExcluding those two items, payments volume growth was relatively stable from September to October,\u201d he shared on the earnings call. <\/p>\n

From a consumer-spending standpoint, Suh told MarketWatch that Visa has seen \u201cpretty consistent trends,\u201d with continued strength in the purchase of services.<\/p>\n

The company posted fiscal fourth-quarter net income of $4.7 billion, or $2.27 a share, compared with $3.9 billion, or $1.86 a share, in the year-earlier period. Visa logged adjusted earnings per share of $2.33, whereas analysts tracked by FactSet were expecting $2.25.<\/p>\n

Visa\u2019s revenue increased 11% to $8.61 billion, while analysts were modeling $8.56 billion. <\/p>\n

Cross-border volume excluding intra-Europe transactions rose 18%, while the company recorded a 16% bump in overall cross-border volume, which occurs when cardholders make purchases from a merchant based in a country other than their cards were issued. <\/p>\n

Peer Mastercard Inc.
\n MA,
\n -0.16%<\/bg-quote>
\n reports earnings before Thursday\u2019s closing bell, while American Express Co.
\n AXP,
\n -0.62%<\/bg-quote>
\n called out healthy spending as it posted its own results last week.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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