Visa (V) Tops Q3 EPS by 8c; $1.5B Stock Buyback

Visa (NYSE: V) reported Q3 EPS of $1.88, $0.08 better than the analyst estimate of $1.80. Revenue for the quarter came in at $3 billion versus the consensus estimate of $2.89 billion.

Authorized a new $1.5 billion share repurchase program

"Visa delivered solid financial performance during our fiscal third quarter and we remain confident in delivering our guidance for fiscal year 2013," said Charlie Scharf, Chief Executive Officer of Visa Inc. "We remain committed and focused on our long-term strategic goal of supporting our issuers, acquirers, merchants and government partners through flexibility and innovation in electronic payments. We are accelerating opportunities to expand our network through mobile, eCommerce and data-driven solutions, while continuing to deliver value to our shareholders."

Financial Outlook:

Visa Inc. updates its financial outlook for the following metrics for fiscal 2013:

Annual net revenue growth: Around 13%; and

Adjusted annual diluted class A common stock earnings per share growth: Low twenties.

Visa Inc. affirms its financial outlook for the following metrics for fiscal 2013:

Client incentives as a percent of gross revenues: 16% to 17% range;

Marketing expenses: Under $1 billion;

Annual operating margin: About 60%;

Tax rate: 30% to 32% range;

Capital expenditures: $425 million to $475 million range; and

Annual free cash flow: About $6 billion.

Visa Inc. affirms its financial outlook for the following metrics for fiscal 2014:

Annual net revenue growth: Low double digits;

Adjusted annual diluted class A common stock earnings per share growth: Mid to high teens; and

Annual free cash flow: About $5 billion.


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

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