Visa Earnings

Visa(V) reported fiscal year 2017 Q2 results later yesterday. EPS came in at $0.18 on revenues of $4.5 billion. The company reported GAAP net income of $430 million, but adjusted net income of $2.1 billion due to special items related to Visa Europe reorganization costs. The company also announced a new $5.0 billion share repurchase program. The stock almost hit $94/share today but has since backed down to $91-$92 as of writing. I will note that is a new all time high. Here is what the CEO had to say.

“In the face of geo-political uncertainty, Visa continues to execute well against our operating plan and strategic priorities, delivering sustained growth across nearly every part of our business,” said Alfred F. Kelly, Jr., Chief Executive Officer of Visa Inc. "Robust growth in payments volume, cross-border volume and processed transactions drove better than expected results. Looking ahead, we are continuing our efforts across the globe to electronify commerce and digitize economies to the benefit of consumers and societies alike.”

I recently highlighted Visa's and other payment processors performance the other day.  The stock is now up over 17% for the year, and has returned over 500% not including dividends since it's IPO in 2008.