Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United States
  4. Nyse
  5. Visa
  6. News
  7. Summary
    V   US92826C8394

VISA

(V)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Visa : 4Q profits plunge as pandemic slows payments worldwide

10/28/2020 | 04:16pm EDT

CHARLOTTE, N.C. (AP) — Visa Inc. said Wednesday that its fiscal fourth quarter profits dropped 29% due to fewer dollars crossing on its namesake payment network while the world was in the grips of a pandemic-caused recession.

The San Francisco-based company posted a profit of $2.14 billion, or 97 cents per share, down from a profit of $3.03 billion, or $1.34 a share, in the same period a year earlier.

Visa recognizes revenue from the quarter before, so the payments activity that ended June 30 is reflected in the profits that the company reported Wednesday. The April 1 to June 30 period was when the U.S. and the rest of the world was being hard hit by the pandemic's outbreak, so payments and transactions plunged sharply.

During the period, Visa had $2.493 trillion in payments on its network, down 11.9% from same period a year earlier. The number of transactions also plunged sharply, down 23.6% from the quarter before.

Visa earns a fee off of every transaction that runs on its network, be it credit cards or debit cards. It was particularly impacted by a drop in gasoline sales, since debit cards are the most common form of payment method at gas stations.

Visa did see payments volume increase in the July 1 to Sept. 30 period, as the U.S. and the rest of the world started reopening, but those revenues will not be recognized until the end of the year. Travel expenses remain particularly depressed, the company said.

Mastercard, Visa's biggest competitor, also reported a decline in profits and revenue due the COVID pandemic. It said cross-border payments were down 36% from a year earlier, mostly due to the pandemic bringing travel and other cross-border transactions to a standstill. Like Visa, Mastercard said it saw modest improvements in payments in the last 90 days, as more governments reopen their economies and people tried to return to normal patterns of spending.

Visa declined to give a fiscal 2021 profit outlook, saying the pandemic has made forecasting next year's business conditions effectively impossible.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

All news about VISA
03:58pSECTOR UPDATE : Financial Stocks Drifting Higher Late in Tuesday Trading
MT
01:43pPayPal, Visa Invest in $300 Million Blockchain Capital Fund
MT
06/18VISA  : Transcript ( PDF 297 KB )
PU
06/17VISA  : Launches its First U.S. Tap to Phone Pilot in Washington D.C. to Support..
AQ
06/16VISA  : Launches its First U.S. Tap to Phone Pilot in Washington D.C. to Support..
BU
06/15Capital One Partners With Williams-Sonoma for Credit Card Program
MT
06/09Payments startup Marqeta valued at over $17 billion in Nasdaq debut
RE
06/09Payments startup Marqeta valued at over $17 bln in Nasdaq debut
RE
06/09VISA  : U.S. Spending Momentum Index Remains Robust in May
BU
06/09ANALYST RECOMMENDATIONS : APA, Bank of America, Citigroup, Goldman Sachs, Visa....
More news
Financials (USD)
Sales 2021 23 568 M - -
Net income 2021 12 284 M - -
Net Debt 2021 3 980 M - -
P/E ratio 2021 41,9x
Yield 2021 0,54%
Capitalization 503 B 503 B -
EV / Sales 2021 21,5x
EV / Sales 2022 18,0x
Nbr of Employees 20 500
Free-Float 84,4%
Chart VISA
Duration : Period :
Visa Technical Analysis Chart | V | US92826C8394 | MarketScreener
Technical analysis trends VISA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 40
Last Close Price 235,93 $
Average target price 264,71 $
Spread / Average Target 12,2%
EPS Revisions
Managers and Directors
NameTitle
Alfred F. Kelly Chairman & Chief Executive Officer
Ryan McInerney President
Vasant M. Prabhu Vice Chairman & Chief Financial Officer
Rajat Taneja President-Technology
Kelly Mahon Tullier Secretary, Chief Legal & Administrative Office
Sector and Competitors
1st jan.Capitalization (M$)
VISA7.86%499 756
MASTERCARD4.52%369 750
PAYPAL HOLDINGS, INC.20.88%332 566
PALO ALTO NETWORKS, INC.4.38%36 126
NUVEI CORPORATION17.62%10 283
AVAST PLC-8.30%7 066