Visa Q3 adjusted profit tops estimates on record cross-border volume growth
V•What drove revenue growth
Visa said net revenue growth was driven by increases in payments volume, cross-border volume and processed transactions.
- Cross-border activity: Cross-border volume excluding intra-Europe rose 12% year over year, supporting international transaction revenue.
- Data processing revenue: Data processing revenue increased 17% year over year to $6.0 billion, contributing to overall revenue growth.
Outlook and analyst snapshot
Visa did not provide specific guidance for the current or upcoming periods.
The current average analyst rating on the shares is "buy", with 42 strong buy or buy ratings, 3 hold ratings and no sell or strong sell ratings.
The average consensus recommendation for the business support services peer group is "buy". Wall Street's median 12-month price target for Visa Inc is $410.00, about 13.1% above its July 27 closing price of $362.53.
The stock recently traded at the next 12-month earnings versus a P/E of three months ago.
