Visa (V) Tops Q3 EPS by 15c, Revenues Beat

Visa (NYSE: V) reported Q3 EPS of $1.49, $0.15 better than the analyst estimate of $1.34. Revenue for the quarter came in at $6.1 billion versus the consensus estimate of $5.83 billion.

• Net revenues of $6.1B, an increase of 27%. Net revenues growth would have been 39% if service revenues were recognized on current quarter's payments volume
• Our key business driver growth rates increased significantly from the COVID-19 impacted levels in 2020, making year-over-year comparisons difficult to interpret
• Indexed to 2019, fiscal third quarter payments volume, cross-border volume and processed transactions all accelerated from the fiscal second quarter
• Returned $2.9B of capital to shareholders in the form of share repurchases and dividends

Alfred F. Kelly, Jr., Chairman and Chief Executive Officer, Visa Inc., commented on the results: "Visa delivered another strong quarter as many key economies are well into a reopening-driven recovery. This was best demonstrated by credit and face-to-face spending bouncing back while debit and eCommerce volumes remained robust from accelerated cash digitization sparked by the pandemic. Additionally, cross-border travel spending improved as vaccination rates rose and more borders opened. Visa grew net revenues 27% and non-GAAP EPS 41% while continuing to make investments in strategies that will drive future growth."

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

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