Visa’s (V) stock is down 4% after the credit card giant delivered financial results that disappointed analysts and investors.
Visa reported fiscal third-quarter earnings per share (EPS) of $2.42 U.S., which matched Wall Street forecasts.
Revenue of $8.90 billion U.S. was slightly below analyst estimates of the $8.92 billion U.S.
The company said that its payments volume rose 7%, while its processed transactions increased 10% during the quarter.
That was down from 8% growth in payment volumes and 11% growth in processed transactions in the previous quarter.
Despite the disappointing results and slowdown, Visa reiterated its forward guidance that calls for full-year double digit revenue growth.
Before today (July 24), the stock of Visa had increased 10% over the last 12 months and was trading at $264.79 U.S. per share.