FYQ2 Snap - Accelerating volume drives beat
Visa reported a strong FYQ2, with revenue and EPS upside driven by accelerating cross-border and debit volumes. Full year revenue growth is now seen in the low double digits, up from high single digits previously, although EPS estimates will only rise modestly given higher opex. Given momentum across the business and relative valuation still in the mid-point of its range we maintain our Overweight stance.Visa is engaged in digital payments. The company facilitates payments between consumers and businesses. The company is focused on its proprietary network, VisaNet, to provide products and services. The company provides a portfolio of business payment solutions, including small business, corporate (travel) cards, purchasing cards, virtual cards/digital credentials, non-card cross-border business-to-business payment options and disbursement accounts, covering various main industry segments around the world. The company also provides several capabilities and services, including fraud prevention and security, processing, loyalty, merchant and digital solutions, consulting and data solutions.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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