Visa Inc. V shares are trading lower in Thursday's after-hours session after the company reported its first-quarter financial results. Here's an overview of the metrics which are moving the stock.
What To Know: Visa reported quarterly earnings of $2.41 per share which beat the analyst consensus estimate of $2.34 by 2.99%.
Revenue clocked in at $8.60 billion, surpassing the analyst expectations of $8.54 billion, a 8.37% increase over sales of $7.94 billion the same period last year.
Payments volume increased 8% while total cross-border volume rose 16%, on a year-over-year basis. Additionally, cash, cash equivalents and investment securities were $21.4 billion as of Dec. 31.
Visa also stated that it sees second-quarter net revenue growth in the upper mid to high single-digit range while full-year net revenue growth is expected to be in the low double-digit range.
"Our 2024 fiscal year is off to a solid start. In our first quarter, net revenues grew 9% and GAAP EPS grew 20%, driven by relatively stable growth in overall payments volume and processed transactions, plus strong growth in cross-border volume. Consumer spending remained resilient. Looking ahead, we continue to see significant opportunity across consumer payments, new flows and value added services," said Ryan McInerney, CEO, Visa Inc.
Related Link: What Happened With Rail Vision Stock?
V Price Action: Shares of Visa were down 2.73% at $265.25 in the after-hours session at the time of publication, according to Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
