Visa Earnings Rise, Revenue Holds Steady (Update 1)

Visa earnings updated to include additional information.

  • Visa (V) reported a profit of $880 Million, or $1.27 per share, up 14% versus a year ago but down 12.5% versus the third quarter.
  • Revenues were at $2.38 billion, up slightly from last quarter's $2.3 billion.
  • Analysts expected an EPS of $1.25 cents per share on revenues of $2.39 billion.

NEW YORK ( TheStreet)-- Visa ( V) earned $880 million in the fourth quarter, 14% higher than a year ago as revenues remained stable despite the fact that consumers struggled with debt.

Per share earnings of $1.27 for class A common stock were $1.27--20% higher than last year. Operating revenues of $2.4 billion were 13% higher than the previous year and "driven by strong contributions across all revenue categories," according to a company press release.

Analysts had been looking for Visa to earn $1.25 per share on revenues of $2.39 billion.

"Throughout the quarter and the year, we have been diligent in our efforts to grow our core business, while successfully unlocking new revenue opportunities through strategic investments, both in our core business and into innovations that will ensure our foundation for future growth remains strong. This foundation will allow us to effectively drive transactions, pursue global growth in new markets and provide our clients with innovative ways to provide safe electronic payments to their customers," said Joseph Saunders, Chairman and Chief Executive Officer of Visa Inc.

Visa full year earnings were $3.5 billion, 22% higher than a year ago. Class A common stock earnings per share was $4.99, up 28% from last year, the company reported.

-- Written by Dan Freed in New York.

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

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