Visa Beats Q1 Earnings And Revenue Estimates, Issues Net Revenue Outlook, Stock Slips
Portfolio Pulse from Ryan Gustafson
Visa Inc. (NYSE:V) reported Q1 earnings of $2.41 per share, beating estimates of $2.34, and revenue of $8.60 billion, exceeding expectations of $8.54 billion. Payments volume and cross-border volume grew by 8% and 16% respectively. Visa forecasts Q2 net revenue growth in the upper mid to high single-digit range and full-year growth in the low double-digit range. Despite positive results, Visa shares dropped 2.73% in after-hours trading.
January 25, 2024 | 9:48 pm
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Visa reported strong Q1 earnings and revenue, beating estimates, with growth in payment and cross-border volumes. Shares fell 2.73% after-hours despite the positive report.
Visa's stock price decline in after-hours trading despite beating earnings and revenue estimates could be due to investors' reactions to other factors not mentioned in the article, such as market expectations or guidance provided by the company. The short-term impact is negative as the stock price has already reacted to the news.
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