Categories AlphaGraphs, Earnings, Finance

Visa Q1 profit jumps 18%, tops estimates

Visa Inc. (V) reported an 18% growth in earnings for the first quarter of fiscal 2019 as the continued growth in payments volume, cross-border volume, and processed transactions drove the revenues higher. The results exceeded analysts’ expectations. The company reaffirmed its full-year 2019 guidance. Following this, the stock inched up over 1% in the after-market session.

Net income increased 18% to $3 billion and earnings soared 21% to $1.30 per share. Adjusted earnings grew 21% to $1.30 per share. The company delivered strong results against the backdrop of an uncertain geopolitical environment.

Net revenues rose 13% to $5.5 billion driven by continued growth in payments volume, cross-border volume, and processed transactions. Exchange rate shifts versus the prior year negatively impacted reported net revenues growth by about 0.5 percentage points. New revenue accounting standard positively impacted revenue growth by about 1 percentage point.

Visa first quarter 2019 earnings snapshot
Visa Q1 2019 Earnings Infographic

Payments volume for the quarter grew 11% over the prior year on a constant dollar basis and cross-border volume growth, on a constant-dollar basis, was 7%. Total processed transactions, which represent transactions processed by Visa, rose by 11% to 33.9 billion.

Service revenues for the first quarter increased 9% year-over-year to $2.3 billion. These are recognized based on payments volume in the prior quarter. Client incentives totaled $1.5 billion in the quarter.

Looking ahead, the company reaffirmed its full-year 2019 financial outlook. Net revenue is still expected to grow in the low double-digits on a nominal basis, with approx. 1% of negative foreign currency impact. Annual diluted Class A common stock EPS is still expected to grow in the high teens on a GAAP nominal dollar basis and mid-teens on an adjusted, non-GAAP nominal dollar basis.

During the first quarter, the company repurchased 16.9 million shares of class A common stock, at an average price of $137.82 per share, using $2.3 billion of cash on hand. The board of directors authorized a new $8.5 billion class A common stock share repurchase program on January 29. Along with the additional authorization, the company now has $9.8 billion of funds available for share repurchase.

On January 29, the board declared a quarterly cash dividend of $0.25 per share of class A common stock, payable on March 5, 2019, to all holders of record as of February 15, 2019.

Shares of Visa ended Wednesday’s regular session up 1.93% at $137.60 on the NYSE. The stock has risen over 11% in the past year and over 5% in the past month.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Disney (DIS): A look at the major winning points for its streaming business

Shares of the Walt Disney Company (NYSE: DIS) have been rallying since the entertainment leader delivered strong results for its third quarter of 2022 a day ago. The stock was

KSS Stock: After terminating sale talks, what awaits Kohl’s this year

Kohl’s Corporation (NYSE: KSS) has been on investors' radar ever since the retailer put itself up for sale earlier this year, after coming under pressure from activist investors. Putting an

Walt Disney Company (DIS) Q3 revenues, earnings beat Street view

Entertainment behemoth The Walt Disney Company (NYSE: DIS) on Wednesday reported higher revenues and earnings for the third quarter of 2022. The results also topped expectations. Third-quarter revenues of the Los

Comments

  1. Pingback: teak furniture
  2. Pingback: ไฮโล
  3. Pingback: Heavy R
  4. Pingback: ff tools
  5. Pingback: ffh4x v41
  6. Pingback: tiktok 18
  7. Pingback: ff tool hack
  8. Pingback: bitcoin
  9. Pingback: venco
  10. Pingback: conimex
  11. Pingback: Epaviste
  12. Pingback: épave automobile
  13. Pingback: enlevement epave
  14. Pingback: Epaviste gratuit
  15. Pingback: enlevement epave
  16. Pingback: épave automobile
  17. Pingback: เว็บ123
  18. Pingback: เว็บ123
  19. Pingback: sa casino
  20. Pingback: เว็บ123
  21. Pingback: kanha gummies nano
  22. Pingback: ps5 sale
  23. Pingback: Epaviste
  24. Pingback: Epaviste
  25. Pingback: Epaviste gratuit
  26. Pingback: Kindness T-Shirt
  27. Pingback: white runtz
  28. Pingback: pink runtz
  29. Pingback: CZ P10C FOR SALE
  30. Pingback: Weed Strains
  31. Pingback: trendy wallpapers
  32. Pingback: nursing essay
  33. Pingback: treets
  34. Pingback: krayzie bone syrup
  35. Pingback: Buy This Domain
  36. Pingback: classic books
  37. Pingback: Miami models
  38. Pingback: atmosphere models
  39. Pingback: Miami models
  40. Pingback: raw gardens carts
  41. Pingback: Buy This Domain
  42. Pingback: สล็อต
  43. Pingback: Nokia Smartphones
  44. Pingback: gold investment
  45. Pingback: karen ball books
  46. Pingback: business coaching
  47. Pingback: buy weed in dubai
  48. Pingback: dexedrine for sale
  49. Pingback: buy vyvanse 70mg
  50. Pingback: slayer sneakers
  51. Pingback: slayer sneakers
  52. Pingback: slayer sneakers
  53. Pingback: w320axgf-9-bxr3-r2
  54. Pingback: fiona tile
  55. Pingback: maui tile
  56. Pingback: tile lowes
  57. Pingback: Buy Cocaine Online
  58. Pingback: scrubber facial
  59. Pingback: zemits adrinox
  60. Pingback: nanodrop 1000
  61. Pingback: India news
  62. Pingback: Trending news
  63. Pingback: Movies news
  64. Pingback: Trending news
  65. Pingback: Hollywood
  66. Pingback: mobiles
  67. Pingback: Policy
  68. Pingback: other
  69. Pingback: Read Full Report
  70. Pingback: Check This Out
  71. Pingback: Read More Here
  72. Pingback: basics
  73. Pingback: description
  74. Pingback: Learn More
Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top