Visa: Q3 adjusted net income down 24%
(CercleFinance.com) - On Tuesday evening Visa reported Q3 2019-20 (to end-June) adjusted net income that is down 24% at 2.
3 billion dollars, or 1.06 dollar per share, for revenues that are down 17% at 4.8 billion dollars.
"While the underlying business drivers declined year-over-year due to the continuing impact of COVID-19, they improved each month throughout the quarter - meaningfully for payments volume and processed transactions and marginally for cross-border volume," Visa said.
However, Visa believes that the uncertainty created by the pandemic on the global economy and "the extent to which COVID-19 will continue to impact the Company's future results is difficult to reasonably estimate at this time," which explains why it is not providing a FY 2020 outlook.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
3 billion dollars, or 1.06 dollar per share, for revenues that are down 17% at 4.8 billion dollars.
"While the underlying business drivers declined year-over-year due to the continuing impact of COVID-19, they improved each month throughout the quarter - meaningfully for payments volume and processed transactions and marginally for cross-border volume," Visa said.
However, Visa believes that the uncertainty created by the pandemic on the global economy and "the extent to which COVID-19 will continue to impact the Company's future results is difficult to reasonably estimate at this time," which explains why it is not providing a FY 2020 outlook.
Copyright (c) 2020 CercleFinance.com. All rights reserved.