Earnings Results: Visa Stock Gains After Earnings Beat As Volume Rises 9%

Visa Inc. shares gained about 1% in after-hours trading Thursday after the payments giant topped profit expectations for its fiscal fourth quarter and delivered in-line revenue.

The company recorded net income of $3.0 billion, or $1.34 a share, down from $3.3 billion, or $1.47 a share, in the year-earlier quarter. Adjusted earnings per share rose to $1.47 from $1.21 and came in above the FactSet consensus, which called for $1.43.

Visa’s V, +2.83%  revenue climbed to $6.1 billion from $5.4 billion in the year-prior period, matching the FactSet consensus of $6.1 billion.

Visa saw payments volume grow 9% on a year-over-year basis in constant currency. Cross-border volume rose 7% on a constant-dollar basis. The company said that excluding European cross-border transactions, which the company said have revenue yields similar to domestic transactions there, cross-border volume was up 9%.

For fiscal 2020, the current fiscal year, Visa expects low double-digit revenue growth and a negative 1% to 1.5% impact from foreign currency. It also projects a roughly 0.5% positive impact from acquisitions. On earnings, the company is calling for mid-teens growth, a 1% to 1.5% negative foreign-currency impact, and a negative acquisition impact of about 1%.

Shares have gained 34% so far this year, as the Dow Jones Industrial Average DJIA, -0.11%  has risen 15%.

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