Visa (V) Continues Mid-Teen Growth Rate in Q4, But Investors Sell
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Price: $371.04 +1.45%
Financial Fact:
Total other income (expense): -115M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Total other income (expense): -115M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Visa, Inc. (NYSE: V) reported fourth-quarter results after the close Wednesday which investors initially met with disappointment. A raised buyback did little to offset the response.
The credit-card processing giant reported GAAP quarterly net income rose 14 percent to $880 million, or $1.27 per diluted, slightly above the Wall Street consensus of $1.25.
Revenue in the quarter rose 13 percent to $2.4 billion, essentially in-line with the Wall Street consensus of $2.39 billion.
Visa increased its share repurchase program by $1 billion.
"Visa continues to deliver strong results, with fourth quarter and full year performance reflecting a business that is both resilient and flexible enough to adapt and flourish in a changing business environment," said Joseph Saunders, Chairman and Chief Executive Officer of Visa Inc.
Visa affirmed its 2012 annual net revenue growth outlook in the high single to low double digit range. In addition, the company affirmed its adjusted EPS growth in the mid to high teens range.
Shares of Visa last traded down almost 2 percent in the after-hours session.
The credit-card processing giant reported GAAP quarterly net income rose 14 percent to $880 million, or $1.27 per diluted, slightly above the Wall Street consensus of $1.25.
Revenue in the quarter rose 13 percent to $2.4 billion, essentially in-line with the Wall Street consensus of $2.39 billion.
Visa increased its share repurchase program by $1 billion.
"Visa continues to deliver strong results, with fourth quarter and full year performance reflecting a business that is both resilient and flexible enough to adapt and flourish in a changing business environment," said Joseph Saunders, Chairman and Chief Executive Officer of Visa Inc.
Visa affirmed its 2012 annual net revenue growth outlook in the high single to low double digit range. In addition, the company affirmed its adjusted EPS growth in the mid to high teens range.
Shares of Visa last traded down almost 2 percent in the after-hours session.
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