Net revenue for the fiscal third quarter ended June 30 was US$8.9 billion, Visa said Tuesday in a statement. That was about US$60 million — or 0.6% — shy of the average estimate of analysts in a Bloomberg survey. Visa last missed analysts’ revenue estimates by an even narrower margin in 2020, data compiled by Bloomberg show.
Visa Inc. slipped in late trading Tuesday after reporting quarterly revenue that just missed Wall Street estimates — a rarity for the world’s biggest payments network.
Shares of San Francisco-based Visa declined 3% to US$256.85 ($345.69) at 5.04pm in New York.
