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MarketScreener Homepage  >  Equities  >  Nyse  >  Visa    V

VISA

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Visa tops profit estimates as consumer spending grows

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10/24/2018 | 04:34pm EST
A Visa credit card is seen on a computer keyboard in this picture illustration

(Reuters) - Visa Inc topped Wall Street estimates for quarterly profit on Wednesday, as the world's largest payments network benefited from higher credit- and debit-card spending in a strengthening U.S. economy.

Visa's total payments volume jumped 11 percent in the quarter ended September, while the number of processed transactions rose 12 percent. Payments volume represents the dollar amount of purchases made with cards carrying Visa's branding.

Rising wages, job growth and lower taxes have spurred U.S. consumer confidence to its highest in nearly two decades, driving spending on everything from luxury goods to day-to-day essentials.

Visa, its rival Mastercard and credit-card issuer American Express, as a result, are processing more transactions and earning more in fees.

Visa's net income rose to $2.85 billion in the fourth quarter ended Sept. 30, from $2.14 billion a year earlier.

Excluding one-time items, Visa earned $1.21 per share, above analysts' average estimate of $1.20, according to Refinitiv data. The result represents the ninth consecutive quarter of better-than-expected earnings for Visa.

Net operating revenue climbed 12 percent to $5.43 billion.

Shares of Visa, up about 21 percent this year, rose 1 percent in trading after the bell on Wednesday.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Sai Sachin Ravikumar)

Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN EXPRESS COMPANY 0.29% 118.28 Delayed Quote.24.09%
MASTERCARD 1.05% 289.85 Delayed Quote.53.64%
VISA 0.71% 181.89 Delayed Quote.37.86%
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Financials (USD)
Sales 2020 25 425 M
EBIT 2020 17 224 M
Net income 2020 13 775 M
Debt 2020 3 803 M
Yield 2020 0,62%
P/E ratio 2020 29,3x
P/E ratio 2021 25,1x
EV / Sales2020 15,6x
EV / Sales2021 13,9x
Capitalization 392 B
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Technical analysis trends VISA
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 38
Average target price 202,57  $
Last Close Price 181,89  $
Spread / Highest target 31,4%
Spread / Average Target 11,4%
Spread / Lowest Target -18,6%
EPS Revisions
Managers
NameTitle
Alfred F. Kelly Chairman & Chief Executive Officer
Ryan McInerney President
Vasant M. Prabhu Vice Chairman & Chief Financial Officer
Rajat Taneja President-Technology
John A. C. Swainson Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
VISA37.86%391 935
MASTERCARD53.64%289 382
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PALO ALTO NETWORKS, INC.21.51%22 101
AVAST52.61%5 573
MIMECAST LIMITED30.66%2 726