Visa: 4% fall in Q1 adjusted net income

(CercleFinance.com) - On Thursday evening Visa published adjusted net income that is down 4% at 3.
1 billion dollars for the first three months of its 2020-21 fiscal year, meaning EPS of 1.42 dollar, significantly above the consensus.

The payment solutions group's revenues contracted by 6% to 5.7 billion dollars, in particular reflecting a 21% drop in cross-border volumes (-33% excluding transactions within Europe).

While it says that it is confident about an end to the pandemic, with stronger long-term growth prospects, at this stage Visa refuses to make forecasts for 2020-21, given uncertainties surrounding the pandemic and the global economy.


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