Company news: Visa (V) quarterly results beat analysts’ forecasts

Visa (V) reported Q1 FY2024 earnings of $2.41 per share (versus $2.18 per share in Q1 FY2023), beating analysts’ consensus estimate of $2.34 per share.

The company’s quarterly revenues amounted to $8.634 bln (+9.3% y/y), slightly beating analysts’ consensus estimate of $8.554 bln.

The company also said it expects Q2 FY2024 net revenue growth of upper mid to high single-digit and Q2 FY2024 EPS growth of upper mid to high-teens on a nominal basis and high-teens on an adjusted constant-dollar basis.

For the full FY2024, it predicts net revenue growth of high single-digit to low double-digit on a nominal dollar basis and low double-digit on an adjusted constant-dollar basis and EPS growth of low-teens on a nominal-dollar basis and low-teens on adjusted constant-dollar basis.

V fell to $263.80 (-3.23%) in pre-market trading.