Visa (V) Stock Slides in After-Hours Trading on Q3 Revenue Miss
NEW YORK (TheStreet) -- Shares of Visa (V) - Get Report are dropping 0.38% to $78.49 in after-hours trading after the company reported lower-than-expected 2016 third quarter revenue.
The San Francisco-based company reported revenue of $3.6 billion for the period. Wall Street was looking for revenue of $3.65 billion.
Visa also reported earnings of 69 cents per share, topping analysts' estimates of 66 cents per share.
"While little has changed in the global economic environment, and cross-border commerce continues to be challenged by a strong U.S. dollar, domestic consumer spend across the globe remains strong and resilient," said CEO Charlie Scharf in a company statement.
"Looking ahead, we expect next quarter results to improve modestly, similar to first-half of the year results," Scharf said. "As we look toward fiscal full-year 2017, our underlying business is strong, and with the lapping effect of several items, based on what we know today and assuming similar consumer spending patterns, we feel good about our ability to produce stronger revenue and earnings growth."
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Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B+.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and expanding profit margins. TheStreet Ratings feels its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: V
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.