Visa tops earnings expectations, boosts dividend

1 month ago 17
PR Distribution

Shares of Visa Inc. gained somewhat successful the aftermarket league aft the payments elephantine topped net and gross estimates portion boosting its quarterly dividend.

The institution posted fiscal fourth-quarter nett income of $3.6 billion, oregon $1.65 a share, up from $2.1 billion, oregon 97 cents a share, a twelvemonth earlier. On an adjusted basis, Visa earned $1.62 a share, up from $1.12 a twelvemonth prior. The FactSet statement was for $1.56 a stock successful GAAP net and $1.55 a stock successful adjusted earnings.

Visa’s V, -0.88% gross grew to $6.6 cardinal from $5.1 billion, portion analysts tracked by FactSet had been expecting $6.5 billion.

Shares were up 0.4% successful after-hours trading Tuesday.

Read: How the quirky ways you type, swipe and behave tin support you online

“Our show was driven by the continuation of the betterment successful galore planetary economies and the accrued diversification of our gross with caller flows and worth added services,” Chief Executive Al Kelly said successful a statement.

Visa’s outgo measurement was up 17% successful the September quarter, portion processed transactions grew 21%. Cross-border volume, oregon measurement betwixt parties originating from antithetic countries, accrued 38% successful the quarter. Cross-border volume, excluding transactions wrong Europe, roseate 46%.

See also: How debit cards are becoming ‘a democratizing force’

The company’s committee of directors approved an summation to the quarterly dividend. The caller dividend volition beryllium $0.375 a share, up from $0.32 a share, and it volition beryllium payable Dec. 7 to shareholders of grounds arsenic of Nov. 12.

Shares of Visa person mislaid 7.4% implicit the past 3 months, arsenic the Dow Jones Industrial Average DJIA, +0.04% has risen 1.7% and arsenic the S&P 500 SPX, +0.18% has accrued 3.5%.

Read Entire Article