Earnings Results: Visa stock dips after earnings match consensus view

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Visa Inc. shares were off 1.5% in after-hours trading Thursday after the payments giant reported in-line results for its fiscal first quarter.

The company posted net income of $3.27 billion, or $1.46 a share, up from $3.0 billion, or $1.46 a share, in the year-prior quarter.

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Adjusted earnings per share for Visa V, +1.64%  rose to $1.46 from $1.30 and came in even with the FactSet consensus. Visa saw revenue for the quarter increase to $6.1 billion from $5.5 billion, which was also in line with the consensus view.

Visa pointed to 8% growth in payment volume and 9% growth in cross-border volume, both in constant currency. Processed transactions rose 11%.

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The results follow numbers from Mastercard Inc. MA, +1.29%  a day earlier that analysts said were indicative of healthy consumer-spending trends. While Mastercard’s executives said they were monitoring the impact of the coronavirus on spending, much of the company’s China-related volume occurs online, a channel that may not be affected as much by store closures and lockdowns in China.

See more: Mastercard says it has a ‘natural hedge’ on coronavirus as much of its China-related volume is online

Visa shares have climbed 16% over the past three months, as the Dow Jones Industrial Average DJIA, +0.43%  , of which it is a component, has added 6%.

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