Visa Inc (NYSE: V) reported fourth-quarter 2020 financial results after the closing bell on Wednesday. The payment services company reported a 17% decline in Q4 revenues to $5.1 billion but surpassed the Wall Street consensus. Earnings of $1.12 per share were also better than what analysts had anticipated.
Visa shares gained 1% immediately following the announcement. The stock has lost 5% of its value since the beginning of this year.
CEO Alfred F. Kelly said, “As the world turns increasingly to digital payments, we see tremendous opportunity for growth. We’ll remain thoughtful in our investments as we advance our strategy to enable the movement of money for everyone, everywhere.”
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