Visa meets 4Q profit forecasts
SAN FRANCISCO (AP) — Visa Inc. (V) on Monday reported fiscal fourth-quarter profit of $1.51 billion.
The San Francisco-based company said it had profit of 62 cents per share.
The results met Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was also for earnings of 62 cents per share.
The global payments processor posted revenue of $3.57 billion in the period, topping Street forecasts. Twelve analysts surveyed by Zacks expected $3.56 billion.
Visa shares have risen 18 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1 percent. The stock has increased 29 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on V at http://www.zacks.com/ap/V
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