5 Stocks Making Noise After Releasing Their Earnings Reports

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 162

Shares of Visa Inc. (NYSE:V) fell nearly three percent in the pre-market trading session on Wednesday, 27 October 2021, despite the company beating expectations for its fiscal fourth quarter. The digital payments giant earned $1.62 per share in the quarter, up from $1.12 per share in the same period of 2020.

Revenue for the quarter rose 29 percent on a year-over-year basis to $6.6 billion. Analysts were expecting Visa Inc. (NYSE:V) to post earnings of $1.55 per share on revenue of $6.5 billion. The company attributed the latest performance to recovery in several countries and sales boost from value-added services.

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CEO Alfred Kelly expressed his satisfaction with the results. Kelly said in a statement:

“In a relatively tumultuous fiscal 2021, Visa delivered strong fourth quarter and full-year results, with double-digit net revenue, net income and EPS growth.”