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7/27, 10:41 PM (Source: TeleTrader)
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Visa's Q3 revenue jumps 27% to $6.1B

Visa said on Tuesday its revenue in the third quarter of fiscal 2021 amounted to $6.1 billion, climbing 27% compared to the same period a year earlier and topping analysts' estimates.

GAAP net income rose 9% year on year to $2.6 billion, while GAAP earnings per share (EPS) increased 10% to $1.18. Adjusted net income surged 39% to $3.3 billion, or $1.49 per share.

"Visa delivered another strong quarter as many key economies are well into a reopening-driven recovery. This was best demonstrated by credit and face-to-face spending bouncing back while debit and eCommerce volumes remained robust from accelerated cash digitization sparked by the pandemic," CEO Alfred Kelly Jr. stated.

Visa shares were down 1.17% in after-hours trading despite better-than=expected results.

Breaking the News / NP