NEW YORK (TheStreet) -- Shares of Visa (V - Get Report) were gaining 4.6% to $259.49 after-hours Thursday after the credit card company beat analysts' estimates for the fiscal first quarter and announced a four-for-one stock split.
Visa reported earnings of $2.53 a share for the fiscal first quarter, above analysts' estimates of $2.49 a share. Revenue grew 7% year over year to $3.38 billion for the first quarter, compared to analysts' estimates of $3.34 billion.
"While the challenges of the macro global environment don't seem to abate, our results have remained consistent and reflect the strength and underlying resilience of our business model," Visa CEO Charlie Scharf said. "Our focus remains squarely on investing in our long-term strategic initiatives, driving new technologies and ways to pay as we continue to work collaboratively with governments, issuers, acquirers, and merchant partners."
Exclusive Report: Jim Cramer's Best Stocks for 2015
The company also announced a four-for-one stock split. The stock will trade on a split-adjusted basis beginning March 19, 2015.
TheStreet Ratings team rates VISA INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate VISA INC (V) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. 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, expanding profit margins, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: V Ratings Report