Visa: off to a good start in FY 2016-17.
(CercleFinance.com) - Visa began its fiscal year 2016-17 on the right footing, with adjusted net income up 23% to 2.
1 billion dollars over Q1, or 86 cents per share, against a consensus of 78 cents.
Net operating revenues increased by 25% to 4.5 billion dollars, driven by the inclusion of Visa Europe, as well as continued growth in transactions processed and the nominal payment volume.
"We continue to see good momentum", said group CEO Alfred Kelly, who in particular pointed out the development of electronic payments in emerging markets and a new acceleration of e-commerce in developed countries.
For the whole of 2016-17, Visa's management says that it is looking for adjusted EPS growth of around 15%, an operating margin of about 60%, with net income up by 16% to 18%.
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