A rise in processed transactions led to a 6.6% jump in revenue for this company during the most-recent quarter.
A new mobile payment industry acquisition should complement the firm’s existing processing operations and could increase its business-to-business revenue.
VISA INC. (New York symbol V; www.visa.com) gives you exposure to this leading processor of credit, debit, prepaid and commercial transactions through the company’s electronic payments networks.
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In its fiscal 2020 second quarter, ended March 31, 2020, Visa processed 34.9 billion transactions. That’s up 7.4% from a year earlier.
As a result, revenue in the quarter rose 6.6%, to $5.85 billion from $5.49 billion a year earlier. That beat the consensus forecast of $5.75 billion.
If you disregard gains and losses on investments and other unusual items, Visa’s overall earnings improved 6.4%, to $3.10 billion from $2.91 billion. The company spent $3.2 billion on share buybacks in the quarter, which is why earnings per share gained 8.6%, to $1.39 from $1.28. That also beat the consensus estimate of $1.35.
Visa’s long-term debt (as of March 31, 2020) was $13.9 billion, or just 4% of its market cap. In addition, it holds cash and investments of $12.15 billion.
Growth Stocks: Online shopping and non-travel spending are strong
The COVID-19 outbreak has cut consumer spending on travel, restaurants, entertainment and fuel. However, transaction volumes should improve in the coming weeks as more countries re-open their economies. Visa should also continue to benefit from the jump in online shopping as a result of the stay-at-home orders associated with the pandemic.
The company’s non-travel e-commerce volumes remain strong in Asia.
In the meantime, Visa is buying Plaid Inc., a privately held firm whose software helps consumers securely link their banking accounts to a wide variety of mobile payment applications.
The company will pay $5.3 billion for Plaid when it completes the purchase in the next few months. It can comfortably afford this acquisition: as of September 30, 2019, it held cash of $7.84 billion.
Plaid nicely complements Visa’s credit and debit card processing operations. The purchase will also help it capture a bigger share of the expanding business-to-business payments market.
My bank replaced all Mastercards for Visa.. just from one day to the other I got a new CC. I know it doesn’t work like that but actually wanted to buy Visa stocks due to that haha!
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My bank replaced all Mastercards for Visa.. just from one day to the other I got a new CC. I know it doesn’t work like that but actually wanted to buy Visa stocks due to that haha!