(CercleFinance.com) – Visa unveiled better-than-expected quarterly results last night, described alternately as ‘impressive’ and ‘bluffing’ by analysts who follow the American payment card giant.
The San Francisco group generated over the period from January to March, the second fiscal quarter of its staggered fiscal year, a net profit up 21% to more than 3.6 billion dollars.
Excluding exceptional items, its earnings per share (EPS) increased by 30% to 1.79 dollars.
Turnover increased by 25% to almost 7.2 billion dollars.
For comparison, analysts on average expected earnings per share of $1.67 on revenue of $7.1 billion.
In a reaction note, analysts at Jefferies hail the “impressive” performance and reiterate their buy recommendation on the stock.
For the American broker, the credit card issuer remains exposed to favorable market trends thanks to the resumption of international travel, its positioning in the segment of the wealthiest customers, the resumption of inflation (favorable to its activity) and the gradual return to the levels of expenditure that characterized pre-Covid.
Wedbush Securities, for its part, evokes a ‘bluffing’ quarter and maintains their ‘outperformance’ opinion on the stock.
Visa shares, down about 7% since the start of the year, were up nearly 9% in early trades on Wall Street.
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