Visa reports mixed Q3 results as revenue misses estimates

Investing.com - Visa reported Tuesday fiscal third-quarter revenue that missed analyst estimates despite a step up in payments volume.

Visa Inc Class A (NYSE: V) was down 2% in afterhours following the report.

For the three months ended Mar. 31, the company reported earnings per share of $2.42 on revenue of $8.9 billion, compared with Wall Street estimates for EPS of $2.42 on revenue of $8.92B.

Revenue fell short of estimates even as the company said it key metrics including payments volume, cross-border, and processed transactions remained "relatively stable."

Payments volume increased 7% from the same period a year earlier, while cross-border volume and processed transactions were up 14% and 10%, respectively.

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Morgan Stanley sees little room left in steel rally, cuts Cleveland-Cliffs rating
• Edgewell stock surges on report of rejected takeover bid