Visa Inc (NYSE:V) released its earnings numbers for the three months through September 2013 this afternoon after the market closed on Wall Street. The company showed earnings per share of $1.85 for the quarter on revenue totaling $3 billion. On today’s market shares in Visa trended down and finished the day’s trading at $204.17.
In the run up to the release of this afternoon’s earnings report, analysts following the credit card company were looking for earnings per share of $1.85 from the company by consensus. Revenue for the period were expected to come in at $3 billion. The consensus figures were enumerated from 30 analysts surveyed by Bloomberg.
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In the three months through September of 2012 Visa Inc (NYSE:V) earned $1.54 per share on revenue totaling $2.7 billion. Visa recorded the the quarter ending September 30 as its fourth quarter of 2013.
Visa earnings beat Wall Street’s expectations in four out of the last four earnings reports. The consumer economy appeared to be doing better than expected back then, however. Today there are questions to be asked about consumer spending, and Visa In (NYSE:V)’s performance.
Visa Inc (NYSE:V) has performed extremely well through 2013 on the back of a slow recovery in the economy of the United States, and a booming stock market. The firm’s shares have increased by more than a third since January 1. The company’s growth has been uneven throughout the year, however, as the company’s value is almost entirely linked to the fortunes of the economy.
The company’s shares went into a lull after the Federal Reserve rolled the ball on taper talk. Shares were then hit by the shutdown of the government of the United States, and worries that problems in China were causing a softer recovery through the fourth quarter of the year. Visa Inc (NYSE:V) is beholden to the state of the world economy, and right investors seem skeptical about the coming months.
Economic data in the United States has not come in as strongly as expected in recent reports, and problems in the rest of the world indicate that 2014 might not be the year of recovery that everyone was hoping for. Visa Inc (NYSE:V) executives will host a conference call at 5 PM EDT in order to discuss these earnings. Analysts and investors will be interested in the firm’s guidance for the fourth quarter.