Visa ( $Visa(V.US)) dipped -1% AH after Visa reported 3Q earnings, revs, and payments that beat expectations, but guided to lower than expected 4Q earnings due to higher than expected expense growth.
3Q actuals- Adj EPS $3.32 vs $2.98 exp- Net revs $11.6B (+14% YoY) vs $11.4B est - Operating exp $4.76B (+19% YoY) vs $4.0B exp- Payments volume (+10% YoY) vs +9% YoY exp.4Q guidance- Adj EPS low-end of mid-teens growth vs +16% exp.- Net revs high end of low double digit growth vs +12% exp- Operating expense growth low double digit growth vs +8% exp.We believe $Visa(V.US) price could move lower after results (similar to AXP last week) if the 3Q margin compression from higher expenses is confirmed to continue into 4Q on the conf call at 5pm ET.The copyright of this article belongs to the original author/organization.
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