Visa (V) Tops Q4 EPS by 5c, Beat on Revenues

Visa (NYSE: V) reported Q4 EPS of $0.90, $0.05 better than the analyst estimate of $0.85. Revenue for the quarter came in at $4.9 billion versus the consensus estimate of $4.63 billion.

Fiscal Fourth Quarter

• GAAP net income of $2.1 billion or $0.90 per share
• Net operating revenues of$4.9 billion, an increase of 14% driven by continued growth in payments volume, cross-border volume and processed transactions
• Payments volume growth, on a constant dollar basis and excluding Europe co-badge volume, was 10% over the prior year
• Cross-border volume growth, on a constant dollar basis, was 10% over the prior year
• Total Visa processed transactions increased 13% over the prior year
• Returned approximately $2.1 billion of capital to shareholders in the form of share repurchases and dividends

Financial Outlook for Fiscal Full-Year 2018:

• Visa Inc. provides its financial outlook for the following metrics for fiscal full-year 2018:
• Annual net revenue growth of high single digits on a nominal dollar basis, with approximately 0.5 to 1 ppt of positive foreign currency impact;
• Client incentives as a percentage of gross revenues: 21.5% to 22.5% range;
• Annual operating expense growth: Mid-single digits adjusted for special items in fiscal 2017 (see note below);
• Annual operating margin: High 60s;
• Effective tax rate: About 29%; and
• Annual diluted class A common stock earnings per share growth: Mid-40's on a GAAP nominal dollar basis and high end of mid-teens on an adjusted, non-GAAP nominal dollar basis (see note
• below), both including approximately 1 to 1.5 ppts of positive foreign currency impact.

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

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