Plus   Neg

Visa Inc. Q4 Profit Beats Estimates - Quick Facts

Visa Inc. (V) reported that its fourth-quarter non-GAAP earnings per share rose 21 percent year-on-year to $1.47. Non-GAAP earnings per share growth was approximately 23 percent on a constant-dollar basis. On average, 33 analysts polled by Thomson Reuters expected the company to report profit per share of $1.43, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter net revenues were $6.14 billion, an increase of 13 percent, driven by continued growth in payments volume, cross-border volume and processed transactions. Net revenues growth was approximately 15 percent on a constant-dollar basis. Analysts expected revenue of $6.08 billion for the quarter.

Payments volume for the three months ended September 30, 2019, grew 9 percent over the prior year on a constant-dollar basis.

For full year 2020, on adjusted constant-dollar basis, the company projects: mid-teens growth in earnings per share; and low double-digit growth in annual net revenues.

On October 22, 2019, the board of directors declared an increase to Visa's quarterly cash dividend by 20 percent to $0.30 per share of class A common stock, payable on December 3, 2019, to all holders of record as of November 15, 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Federal Trade Commission said it will challenge the proposed merger between two Philadelphia-area hospital systems as the deal could reduce competition, resulting in raised prices in both Philadelphia and Montgomery counties. The FTC issued an administrative complaint to block the proposed merger of Jefferson Health and Albert Einstein Healthcare Network. Step2 Co. LLC recalled about 20,500 units of Little Helper's children's grocery shopping carts for possible laceration hazard, the U.S. Consumer Product Safety Commission said in a statement. These include about 3,500 units sold in Canada. The company said the shopping cart's basket can break into sharp pieces, leading to a laceration hazard. Wendy's Co. joined the growing list of fast-food chains that are launching plant-based meat options. The fast food chain has introduced "The Plantiful," a plant-based burger, at its restaurants across Canada. Wendy's said it formulated its own recipe in-house, unlike other fast-food chains who have relied on Beyond Meat or Impossible Foods to introduce their plant-based meat alternatives.
Follow RTT