Visa Doubles Down on Fintech
When Visa (NYSE: V) reported its third-quarter results last month, investors were looking to see if problems from the company's first two fiscal quarters of the year -- specifically, low cross-border payment growth -- would persist. Investors need not have worried. The conference call painted a picture of a management team that understood the challenges it faced and was taking decisive action to address them.
The headline numbers certainly appeared fine. Revenue rose to $5.8 billion, an 11% increase year over year, and adjusted earnings per share grew to $1.37, a 14% increase over last year's third quarter.
The double-digit revenue and earnings growth was driven by a 12% increase in processed transactions and a 5% rise in payment volume. While the latter was a bit tepid, it actually represented acceleration over the previous quarter's 3% growth.
Source Fool.com
