Visa Able To Beat On Earnings And Revenues, Sees Stock Price Jump After Hours

Visa (V – Analyst Report) operates in the financial transaction services industry.  Through its electronic payments system, it is able to facilitate global commerce.
 
Shares of Visa went down 1% heading into its earnings report.  This company has not seen any estimate revisions made for the third quarter in the last 60 days. 
 
Our earnings consensus has taken a dip from 90 days ago, when it estimated earnings of $0.65 per share.  Our consensus has gone down by 9%, and currently stands at $0.59.
 
Visa has seen its rank move up in the last week.  It has upgraded from a Zacks Rank #4 (Sell), to a Zacks Rank #3 (Hold). 
 
Earnings: Visa was able to beat on estimates, reporting EPS of $0.74 for the quarter. This figure beats this figure beat the Zacks Consensus Estimate of $0.59. (These figures take out stock option expenses)
 
Revenue:  Visa was also able to beat estimates for the company’s revenues. The Zacks Consensus was $3.365 billion, and actual reported revenue for the quarter was $3.518 billion.
 
Key stats to Note: Payments volume growth, on a constant dollar basis, was $1.3 trillion for the quarter, representing a year over year increase of 11%.
 
Stock price: Visa’s stock was up 6.48%, or $4.65, to 76.40, as of 4:40 PM ET in after hour trading.