As per reports, Visa Inc. (NYSE: V) reported fiscal Q2 results recently with EPS of $1.39 per share and revenue climbing to $5.90 billion, beating analyst expectations at $1.35 per share and $5.75 billion. The Profits climbed 4% to $3.08 billion.
Chief Executive Officer, Visa Al Kelly warned the firm is expected to be challenged “for a number of quarters” even as declines in spending on its network began to low April.
“We are pulling back on discretionary spending, especially related to personnel, travel, professional services and marketing,” stated Kelly said Thursday on a conference call with analysts after the results were announced.
Shares closed down 1.7% at 178.63 on the stock market after the earnings release.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Their mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Their advanced global processing network, VisaNet, provides secure and reliable payments around the world and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying its brand, products, people, network and scale to reshape the future of commerce. To learn more about Visa (V) and to track its ongoing progress please visit the Vista Partners Visa (V), Coverage Page.
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