Pending litigation, Brexit concerns, and the strong dollar didn’t stop Visa (V) from beating Wall Street’s quarterly profit estimates, or from introducing a $5 billion stock-buyback plan.
Visa’s adjusted earnings of 69 cents a share for the three months through June, its fiscal third quarter, compared with the 67-cent average of analysts’ estimates in aBloomberg survey.
Net income, including one-time charges related to the company’s purchase of former subsidiary Visa Europe, fell 76% to $412 million. Operating revenue climbed 3% to $3.6 billion, in line with analysts’ estimates, as cardholder spending climbed 10% to $1.3 trillion.
