Investing.com - Visa reported Tuesday fiscal third-quarter revenue that missed analyst estimates despite a step up in payments volume.
Visa Inc Class A (NYSE:V) was down 2% in afterhours following the report.
For the three months ended Mar. 31, the company reported earnings per share of $2.42 on revenue of $8.77 billion, compared with Wall Street estimates for EPS of $2.42 on revenue of $8.92B.
Revenue fell short of estimates even as the company said it key metrics including payments volume, cross-border, and processed transactions remained "relatively stable."
Payments volume increased 7% from the same period a year earlier, while cross-border volume and processed transactions were up 14% and 10%, respectively.