Visa Trades Lower on Q2 Earnings Results (V)

Shares of Visa Inc. V are trading lower in the after-hours following the release of its Q2 earnings results. Currently, shares are off 0.86%, trading at $78.02; they closed the regular session down 1.34%, at $78.70. The company said that its Q2 EPS came in at $1.23 on revenues of $2.25 billion; this compares to the Street's estimate of $1.20 per share on revenues of $2.23 billion. Revenues rose 14.6% year over year. Visa management also reaffirmed its FY 2011 outlook, at net revenue growth of 11-15% (cons: +13.3%); EPS growth of +20% (cons: +21.2%) and Free cash flow of +$3 billion. The company also authorized a $1 billion stock buyback. The company "delivered a solid financial performance in our fiscal second quarter, with double-digit growth in payments volume, cross border volume and Visa-processed transactions from across the globe," said Chairman and Chief Executive Joseph Saunders. Visa Inc., incorporated in May 2007, is a global payments technology company that connects consumers, businesses, banks and governments in more than 200 countries and territories, enabling them to use digital currency instead of cash and checks.