Visa Updates 2017 Outlook - Quick Facts

(RTTNews) - Visa Inc. (V) announced the company now expects annual class A common stock earnings per share growth of low double-digits on a GAAP nominal dollar basis and approximately 20% on an adjusted, non-GAAP nominal dollar basis. For 2017, annual net revenue growth is targeted to be approximately 20% on a nominal dollar basis; Client incentives as a percent of gross revenues are expected to be in the range of 20.0% to 20.5%.

Excluding special items, third-quarter net income and earnings per share both increased 26% over the prior year. Net operating revenue in the fiscal third quarter was $4.6 billion, an increase of 26%, driven by the inclusion of Europe and continued growth in payments volume, cross-border volume and processed transactions.

Third-quarter total processed transactions, which represent transactions processed by Visa, for the three months ended June 30, 2017, were 28.5 billion, a 44% increase over the prior year.