Net revenue was up by 14% to $11.6bn ($11.4bn expected) outpacing payment volume growth of 10%, supported by strong growth in data processing revenues, cross-border volumes and value-added services.
Adjusted net profit rose by 8% to $6.3bn, held back by higher marketing and personnel expenses.
Free cash flow fell from $6.3bn to $6.1bn while net debt came in at $11.5bn. In the third quarter Visa spent $6.2bn on dividends and buybacks.
Visa tightened its revenue and cost outlook, while nudging earnings per share expectations higher to the low end of the mid-teens range.
The shares fell 2.3% in pre-market trading.
Our view
HL view to follow.
Visa key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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