Time: 2024-07-24
Visa ( NYSE : V ) recently released its fiscal Q3 results , which showed earnings meeting Wall Street expectations while revenue fell short . The company 's total payment volume , cross - border volume , and processed transactions all experienced slower growth compared to the previous quarter.
Despite the mixed results , CEO Ryan McInerney stated that the key business drivers remained " relatively stable . " Following the earnings report , Visa 's stock saw a 2.7 % dip in after - hours trading on Tuesday.
Visa reported a total payment volume of .95 trillion for the quarter , surpassing the Visible Alpha estimate of .42 trillion . This marked an increase from the previous quarter and the same period last year . Additionally , the company 's adjusted EPS for the quarter matched analyst estimates at .42.
Looking ahead to fiscal Q4 , Visa expects growth in its class A common stock EPS to be in the high end of low double - digits , with net revenue growth in the low double - digits and operating expense growth in the high single - digits . The company also provided guidance for the remainder of fiscal 2024 , anticipating operating expense growth in the high single - digit to low double - digit range.
Visa 's performance in the current quarter reflects a mixed bag of results , with earnings meeting expectations but revenue falling short . Despite this , the company remains optimistic about its future growth prospects , particularly in key areas such as payment volume and cross - border transactions . Investors will be closely watching how Visa navigates the evolving landscape of the payment industry in the coming months .
In conclusion , Visa 's ability to adapt to changing market conditions will be crucial in determining its long - term success . With a solid foundation in place and a focus on innovation , the company is positioned to capitalize on emerging trends in the financial services sector.
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