Visa Inc (V -4.73% to $116.41) posted 2Q EPS up 55.3% YoY to $1.91 (adjusted EPS of $1.60) on revenue of $2.6B, up 14.8%. Dollar payments volume grew 11% YoY to $956B while cardholders made 13B transactions with their Visa cards, up 8%. The Co raised its FY EPS growth guidance to "high teens to low twenties" from "high teens" previously forecast. The Co also disclosed that the US Department of Justice Antitrust Division had issued in March a Civil Investigative Demand requesting additional information about the Co's PIN-authenticated Visa Debit and debit strategies.
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Companies like credit card company Visa are generally very profitable in good times but not so much in bad times. Their appears to be a slow but steady improvement taking place in the economy.
ReplyDeleteI agreed with your opinion.
ReplyDeleteCurrently, Warren Buffet is buying/accumulating both VISA/MASTERCARD companies share slowly.
In future, we will see the fast & efficient way of e-payment via smart phone.