Visa misses by $0.01, reports revs in-line; authorizes a new $5.0 billion repurchase program; sees annual net revenue growth in a high single-digit to low double-digit range
- Reports Q4 (Sep) earnings of $0.62 per share, $0.01 worse than the Capital IQ Consensus of $0.63; revenues rose 10.6% year/year to $3.57 bln vs the $3.56 bln Capital IQ Consensus.
- Q3 Payments volume growth, on a constant dollar basis was 11% over the prior year at $1.3 trln.
- Co authorized a new $5.0 bln repurchase program, in addition to the previously announced 17% quarterly per share dividend increase.
- Guidance: Annual net revenue growth: High single-digit to low double-digit range on a constant dollar basis, with an expectation of about three percentage points of negative foreign currency impact; Client incentives as a percent of gross revenues: 17.5% to 18.5% range. Annual operating margin: Mid 60s. Annual adjusted diluted class A common stock earnings per share growth: Low-end of the mid-teens range on a constant dollar basis, with an expectation of about four percentage points of negative foreign currency impact.