Visa (V) Tops Q3 EPS by 15c

Visa (NYSE: V) reported Q3 EPS of $0.74, $0.15 better than the analyst estimate of $0.59. Revenue for the quarter came in at $3.52 billion versus the consensus estimate of $3.36 billion.

“We continue to deliver solid financial results and operating metrics without the help of an improving economic environment. Strong underlying fundamentals continue to offset the drag from geopolitical tension and the strengthening dollar on our business,” said Charlie Scharf, Chief Executive Officer of Visa Inc.

Fiscal Third Quarter 2015 Financial Highlights:

Payments volume growth, on a constant dollar basis, for the three months ended March 31, 2015, on which fiscal third quarter service revenue is recognized, was 11% over the prior year at $1.2 trillion.

Payments volume growth, on a constant dollar basis, for the three months ended June 30, 2015, was 11% over the prior year at $1.3 trillion.

Cross-border volume growth, on a constant dollar basis, was 8% for the three months ended June 30, 2015.

Financial Outlook:

Visa Inc. reaffirms its financial outlook for the following metrics for fiscal full-year 2015:

• Annual operating margin: Mid 60s; and
• Annual free cash flow greater than $6 billion.

Visa Inc. updates its financial outlook for the following metrics for fiscal full-year 2015:

• Annual net revenue growth: Constant dollar revenue growth of low double digits, with an expectation of about 2.5 percentage points of negative foreign currency impact;
• Client incentives as a percent of gross revenues: Low-end of the 17.5% to 18.5% range;
• Tax rate: 29% to 30% range; and
• Annual adjusted diluted class A common stock earnings per share growth: Mid-teens range.

Fiscal full-year 2015 annual adjusted diluted earnings per share growth assumes an adjusted basis for fiscal full-year 2014.

For earnings history and earnings-related data on Visa (V) click here.

You May Also Be Interested In

• Lockheed Martin (LMT) Tops Q1 EPS by 53c, Beats on Revenue; Offers FY24 Guidance
• Philip Morris (PM) beats Q1 earnings, revenue estimates; issues upbeat guidance
• Oppenheimer Reiterates Outperform Rating on Electronic Arts (EA)