Visa: Q4 adjusted net income down a quarter
(CercleFinance.com) - On Wednesday evening Visa reported Q4 2019-20 adjusted net income that is down 25% to 2.
5 billion dollars, or 1.12 dollar per share, which represents EPS that is slightly better than the consensus.
Revenues of the payment solutions group contracted 17% to 5.1 billion dollars, in particular reflecting a 29% drop in cross-border volumes (-41% excluding transactions within Europe).
Visa's FY adjusted EPS fell by 7% to 5.04 dollars: at present it refuses to make forecasts for 2020-21, given the uncertainties surrounding the pandemic and the global economy.
The share is down almost 5% in pre-market trading on Thursday.
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