☰

Empresas y finanzas

Visa cuts revenue growth target for the year; shares fall


    (Reuters) - Visa Inc, the world's largest credit and debit card company, cut its revenue growth outlook for the year, citing a strengthening U.S. dollar.

    VISA (V.NY)shares were down 2.8 percent at $215.03 in extended trading.

    "Revenue growth was affected by a strong U.S. dollar and tepid growth from cross-border transactions," Chief Executive Charlie Scharf said in a statement on Thursday.

    Visa, which gets about 60 percent of its total transaction volume from outside the United States, cut its full-year revenue growth forecast to 9-10 percent from 10-11 percent.

    The dollar index stood at 80.85 on Thursday, near a 5-month high in July against a basket of major currencies.

    Visa's net income rose to $1.36 billion, or $2.17 per Class A share, in the third quarter ended June 30 from $1.23 billion, or $1.88 per Class A share, a year earlier.

    Total operating revenue rose 5.1 percent to $3.16 billion.

    Analysts on average had expected a profit of $2.10 per share on revenue of $3.15 billion, according to Thomson Reuters I/B/E/S.

    Visa's payment volumes on a constant dollar basis rose 11.5 percent to $1.19 trillion in the quarter.

    (Reporting by Tanya Agrawal and Amrutha Gayathri in Bangalore; Editing by Robin Paxton and Don Sebastian)