Visa Shares Unmoved by Strong Earnings Report
Visa Inc.'s (NYSE:V) second-quarter earnings exceeded analysts' expectations, but its shares have not seen significant price appreciation. Despite strong performance in payment volumes and a high-margin business model, investors seem cautious.
The company reported fiscal third-quarter EPS of $3.32, beating the consensus estimate by $0.09. Revenue reached $11.63 billion, up 14.4% year over year and ahead of expectations.
Several hedge funds have recently adjusted their positions in Visa. Keel Point LLC reduced its stake in the company's stock by 20.6% during the first quarter, selling 5,464 shares worth $6.35 million as of its most recent SEC filing.