Visa (V) Lower After Negative Volume Growth, Mastercard (MA) Down in Sympathy
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Visa, Inc. (NYSE: V) is 2.7 percent lower Wednesday after the company said April U.S. payment volume is down 3 percent. This month things look better but still not good. The company said through May 28, 2012, U.S. aggregate payments volume growth was 0%.
Breaking things out further, Visa said for April U.S. credit payments volume growth was positive 8% and debit payments volume growth was negative 12% Cross border volume growth on a constant dollar basis was positive 13% globally over the prior year period. Processed transactions growth was negative 1% globally.
May, broken out further, showed U.S. credit payments volume growth was positive 10% and debit payments volume growth was negative 8%. Cross border volume growth on a constant dollar basis was positive 13% globally over the prior year period. Processed transactions growth was positive 1% globally.
Rival Mastercard (NYSE: MA) is also being impacted from Visa's guidance. Shares of MA last traded down 1.2 percent.
Breaking things out further, Visa said for April U.S. credit payments volume growth was positive 8% and debit payments volume growth was negative 12% Cross border volume growth on a constant dollar basis was positive 13% globally over the prior year period. Processed transactions growth was negative 1% globally.
May, broken out further, showed U.S. credit payments volume growth was positive 10% and debit payments volume growth was negative 8%. Cross border volume growth on a constant dollar basis was positive 13% globally over the prior year period. Processed transactions growth was positive 1% globally.
Rival Mastercard (NYSE: MA) is also being impacted from Visa's guidance. Shares of MA last traded down 1.2 percent.
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