From StockNews.com: Visa Inc (NYSE:V) late Thursday posted market-beating fourth quarter profit and revenue, as payments volume and processed transactions continued to grow.

The San Francisco-based credit card giant reported adjusted Q1 EPS of $0.86, which was $0.08 better than the Wall Street consensus estimate of $0.78. Revenues rose 25.1% from last year to $4.46 billion, also topping analysts’ $4.28 billion view.

Visa noted that payments volume, excluding currency fluctuations, surged 39% year-over-year to $1.8 trillion. Meanwhile, total processed transactions jumped 44% to 27.3 billion. Excluding Europe, which wasn’t previously included in the prior year, processed transactions growth was 13%.

Looking ahead, V reaffirmed its full-year 2017 outlook for operating margins in the mid 60s, with a effective tax rate in the low 30s.

The company commented via press release:

“Visa’s fiscal 2017 is off to a terrific start with a strong first quarter of revenue and earnings growth driven by accelerating growth in payments volume, cross-border commerce and processed transactions in virtually all regions around the world,” said Alfred F. Kelly, Jr., Chief Executive Officer of Visa Inc. “As we look ahead, we continue to see good momentum in the business driven by domestic and cross-border volumes, increasing consumer participation in electronic payments in developing markets, and the further acceleration of e-commerce in developed markets,” added Kelly. “We remain focused on the integration of Europe which is proceeding well.”

Visa Inc shares were trading at $82.30 per share on Thursday afternoon, down $0.14 (-0.17%). Year-to-date, V has gained 5.49%, versus a 1.90% rise in the benchmark S&P 500 index during the same period.

V currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 39 stocks in the Consumer Financial Services category.

This article is brought to you courtesy of StockNews.com.

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