Visa: Q4 adjusted net income down a quarter

(CercleFinance.com) - On Wednesday evening Visa reported Q4 2019-20 adjusted net income that is down 25% to 2.
5 billion dollars, or 1.12 dollar per share, which represents EPS that is slightly better than the consensus.

Revenues of the payment solutions group contracted 17% to 5.1 billion dollars, in particular reflecting a 29% drop in cross-border volumes (-41% excluding transactions within Europe).

Visa's FY adjusted EPS fell by 7% to 5.04 dollars: at present it refuses to make forecasts for 2020-21, given the uncertainties surrounding the pandemic and the global economy.

The share is down almost 5% in pre-market trading on Thursday.


Copyright (c) 2020 CercleFinance.com. All rights reserved.