Credit card issuer Visa Inc (NYSE:V) late today posted better-than-expected fiscal Q4 earnings results, as revenue soared due to the inclusion of Visa Europe.
The San Francisco-based company reported fiscal Q4 EPS of $0.78, above Wall Street’s view of $0.73. Revenues surged 19.3% from last year to $4.26 billion, also topping estimates of $4.24 billion.
Payments volume growth rose 10% from the year-ago period to $1.3 trillion. When including Visa Europe, volume growth jumped 47% to $1.9 trillion.
Looking ahead, Visa forecast 2017 revenue growth of 16% to 18% with operating margins in the mid 60% range.
The company commented via press release:
“We continue to deliver healthy earnings growth in the face of continued, but abating headwinds. We have begun to see the benefits from our acquisition of Visa Europe and strong cost discipline helped our results. At the same time, we are unwavering in our commitment to invest in client partnership opportunities and the further build out of our digital payments capabilities,” said Charlie Scharf, Chief Executive Officer of Visa Inc.
Visa shares fell $1.02 (-1.23%) to $82.15 in after-hours trading. Prior to today’s report, V had gained 7.29% year-to-date.