Visa Inc.
(NYSE:V) stock traded lower in premarket trading Wednesday after the payments giant reported fiscal third-quarter results that topped Wall Street estimates and issued guidance in line with its long-term growth outlook.
Earnings Beat Estimates Visa reported adjusted earnings of $3.32 per share, beating the analyst consensus estimate of $3.23, according to Benzinga Pro.
Revenue increased to $11.63 billion, above the Street estimate of $11.39 billion.
The company recorded $563 million in severance costs tied to workforce changes as part of an efficiency program aimed at lowering costs and funding future growth initiatives.
