After the market close on Thursday, the technology company reported earnings of 69 cents per share, beating analysts' estimates by 1 cent. Revenue of $3.6 billion slightly missed analysts' forecasts for revenue of $3.62 billion.
The company said a strong dollar affected Visa's revenue and cross-border volume growth, which rose by 4% on a constant dollar basis.
"While these headwinds do not appear to be abating in the short-term as we had hoped, the fundamentals of our business remain strong and our long-term growth trajectory remains intact as we navigate through this uncertain environment," CEO Charlie Scharf said in a statement.
Additionally, on Friday Visa launched Visa Commerce Network, which can connect transactions between separate merchants.
Separately, 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.
TheStreet Ratings rates this stock as a "buy" with a ratings score of A-. 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, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: V