Visa reported revenue of .1 billion in Q3 2021 against an estimate of .86 billion according to a consensus by FactSet.Visa Inc (NYSE: V) stock traded around 7, 1.57% down during Wednesday’s pre-market. The downshift comes at a time when publicly traded companies are reporting the quarter that ended on June 30. Notably, Visa reported a blowout Q3 2021 earnings that beat analysts’ expectations.According to news outlet MarketWatch, Visa reported a net income of .6 billion, up from .37 billion a year ago. Notably, the figure represented .18 per share during the just-concluded quarter in comparison to .07 per share. During the third fiscal quarter, Visa reported revenue of .1 billion against an estimate of .86 billion according to a consensus by FactSet. According to the
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Visa reported revenue of $6.1 billion in Q3 2021 against an estimate of $5.86 billion according to a consensus by FactSet.
Visa Inc (NYSE: V) stock traded around $247, 1.57% down during Wednesday’s pre-market. The downshift comes at a time when publicly traded companies are reporting the quarter that ended on June 30. Notably, Visa reported a blowout Q3 2021 earnings that beat analysts’ expectations.
According to news outlet MarketWatch, Visa reported a net income of $2.6 billion, up from $2.37 billion a year ago. Notably, the figure represented $1.18 per share during the just-concluded quarter in comparison to $1.07 per share.
During the third fiscal quarter, Visa reported revenue of $6.1 billion against an estimate of $5.86 billion according to a consensus by FactSet. According to the company, the increased face-to-face spending amid the economic recovery was a major contributing factor to the earnings growth. Additionally, the strong e-commerce transactions driven by the pandemic also played a crucial role in the just-announced earnings results.
Visa delivered another strong quarter as many key economies are well into a reopening-driven recovery,” said Alfred Kelly Jr., chief executive of Visa.
According to Visa’s Chief Financial Officer Vasant Prabhu, the company recorded its strongest growth since the onset of the coronavirus pandemic. However, Prabhu noted that the recovery is far from over yet and the scope of available opportunities is immense.
“We’re essentially seeing that even as the economy reopens, e-commerce spending is sustaining,” Prabhu noted. Adding that “Habits that people formed during the pandemic are sticking.”
Visa Stock and Company’s Q3 2021 Earnings
Visa has a promising future in the payment industry. Bolstered by its huge market valuation that stands at approximately $533.73 billion as of the time of reporting.
Notably, V stock has risen approximately 26.36%, 14.72%, and 7.49% in the past year, seven months, and three months respectively through Tuesday. Having been rated by 41 analysts, V stock received an average of a Buy rating. An indication there is more upside shift in the coming quarters.
One of Visa’s strongest competitors Mastercard Inc (NASDAQ: MA) is expected to report its quarterly earnings on Thursday. According to a survey by FactSet, analysts expect Mastercard to report revenue of $4.37 billion, up 31% on a year-over-year basis.
Visa has been exploring other opportunities to widen its revenue collection. Notably, the company has been eyeing the cryptocurrency industry through the stablecoin market to increase its customers globally. Furthermore, there has been a notable rise in demand for digital assets in both retail and institutional investors.
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