Visa (NYSE:V) posted its quarterly earnings results late Tuesday, amassing a profit that was stronger than analysts expected on an adjusted basis, while sales surged more than 10% year-over-year, yet V stock dipped slightly when compared to the year-ago quarter.
The San Francisco, Calif.-based financial services business reported third-quarter earnings of $3.1 billion, or $1.37 per share, marking a 10.7% gain when compared to the $2.8 billion, or $1 per share, from the same period a year ago. On an adjusted basis, the business gained $1.37 per share, about 17 cents per share higher than the year-ago period
Wall Street called for Visa to bring in adjusted earnings of $1.33 per share, according to a survey of analysts compiled by FactSet. The business added that its sales tallied up to $5.8 billion, 11.5% higher than the $5.2 billion from the same period a year ago.
The Wall Street guidance predicted the company would bring in sales of $5.7 billion, according to FactSet. Visa added that its payments volume surged 9% when compared to the year-ago period in a constant currency basis, while gross-border volume gained 7% on a constant-dollar basis.
For the fiscal year, the company said it now sees revenue growth in the low double digits on a nominal-dollar basis.
V stock slid about 0.5% today following these results. Shares had been gaining about 0.2% during regular trading hours.