This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Visa Shares Fall on Weak 2014 Outlook

NEW YORK (TheStreet) -- Visa  (V - Get Report) shares opened lower Friday after the company reported second quarter earnings that beat estimates but offered disappointing revenue guidance for the rest of 2014.

Shares were lower by 3.67% to $201.71 a few minutes after the start of trading Friday.

Visa reported second quarter earnings of $2.52 per share versus a consensus of $2.18 after Thursday's market close.

However, the electronic payment processor said revenues would grow by 10-11% in 2014, down from previous guidance of 10-13% growth.

"The outlook commentary is one of the main drivers of the weakness in the shares after hours," argued KBW analyst Sanjay Sakhrani in a research note. Sakhrani cited not only the weaker revenue growth projections but the inclusion of a $218 million tax benefit in full year guidance for fiscal 2014, which he argued implies "lower growth for the back half of the year than originally anticipated."

Follow @dan_freed

 

 

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
V $67.48 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs