Visa Stocks Rise 1.12% After Q3 Earnings Beat Estimates

Visa Stocks rose 1.12% to $366.59 on the 28th (local time) following the company's third-quarter earnings report that exceeded analyst expectations. The global payment network operator posted quarterly earnings per share of $3.32, surpassing the Zacks consensus estimate of $3.23, while revenue reached $11.63 billion, beating forecasts by 2.28%. Visa has now beaten EPS estimates for four consecutive quarters, maintaining momentum in a competitive digital payments landscape.

Visa Reports Q3 Earnings Above Consensus

According to Zacks data, Visa's third-quarter earnings per share reached $3.32, exceeding the consensus estimate of $3.23. This represents an increase from the prior-year quarter's EPS of $2.98. Revenue for the quarter totaled $11.63 billion, surpassing the Zacks consensus by 2.28% and up from $10.17 billion in the same period one year earlier. The company has consistently outperformed EPS forecasts across the past four quarters.

Visa Announces 2,600 Employee Layoffs in Tech and Product Units

Visa announced workforce reductions affecting 2,600 employees, representing 7% of its total workforce. The layoffs will focus on technology and product divisions as part of organizational efficiency measures.

FAQ

What were Visa's Q3 earnings results on the 28th? Visa reported third-quarter earnings per share of $3.32, beating the Zacks consensus estimate of $3.23, with revenue of $11.63 billion exceeding forecasts by 2.28%.

How many employees is Visa laying off? Visa announced layoffs affecting 2,600 employees, which represents 7% of its total workforce, concentrated in technology and product divisions.