Visa, Inc, (V) reported solid third-quarter results on Oct 27 that were better than expected, making it four of the last four quarters that the company has surprised.

Revenue was up 10% from last year to $1.9 billion. Earnings also came in strong at 74 cents per share, 3 cents ahead of the Zacks Consensus Estimate. The company has beat in each of the last four quarters by an average of 7 cents, or 10%.

Estimates Up

Estimates have risen in response to the good quarter, with the current year adding 14 cents to $3.56 per share. The next-year estimate is up 14 cents to $4.30, a bullish 21% growth projection.

Valuation

Shares of V are trading at a premium to the overall market with a forward P/E of 22X.

The Chart

Shares of Visa recently surged higher and hit a new 52-week high above $79, take a look below.

Zacks Investment Research
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