Visa (V) Misses Q4 EPS by 1c

Visa (NYSE: V) reported Q4 EPS of $0.62, $0.01 worse than the analyst estimate of $0.63. Revenue for the quarter came in at $3.6 billion versus the consensus estimate of $3.57 billion.

“Visa’s fiscal fourth quarter was a strong finish to an equally strong fiscal full-year 2015 in terms of revenue and earnings per share growth in the face of a continued challenging global economic environment. The underlying growth of our franchise continued as evidenced by our strong payments volumes as well as new and renewed partnerships during the year. Most importantly, we continued to build our capabilities at the physical point-of-sale as well as in the digital space,” said Charlie Scharf, Chief Executive Officer of Visa Inc. “Although fiscal 2016 reported growth rates will be negatively impacted by a strong US dollar and an uneven global economy, we are well positioned for strong success in 2017 and well beyond.”

Financial Outlook:

Visa Inc. provides its financial outlook for the following metrics for fiscal full-year 2016:

• Annual net revenue growth: High single-digit to low double-digit range on a constant dollar basis, with an expectation of about three percentage points of negative foreign currency impact;
• Client incentives as a percent of gross revenues: 17.5% to 18.5% range;
• Annual operating margin: Mid 60s;
• Tax rate: Low 30s;
• Annual adjusted diluted class A common stock earnings per share growth: Low-end of the mid-teens range on a constant dollar basis, with an expectation of about four percentage points of negative foreign currency impact; and
• Annual free cash flow: About $7 billion.

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

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