Shares of Visa Inc (NYSE:V) rose on Wednesday, after the company reported its fiscal third-quarter results.The outperformance was driven by healthy consumer spending trends and a favorable macro environment, according to Cantor Fitzgerald.The Visa Analyst: Analyst Ramsey El-Assal reaffirmed an Overweight rating and price target of $410.The Visa Thesis: The company reported a "healthy" revenue beat, with Data Processing and other revenues topping Street expectations, El-Assal said in the note.Check out other analyst stock ratings.He highlighted the following from Visa’s quarterly results:
Net revenues of $11.633 billion, above consensus of $11.396 billion.
Adjusted EBIT of $7.755 billion, surpassing Street’s $7.597 billion estimate.
Adjusted earnings of $3.32 per share, beating expectations of $3.23 per share.
Management raised their full-year revenue growth outlook, while maintaining its adjusted operating expenses and earnings guidance, the analyst stated.Visa provided fresh guidance for the fiscal fourth quarter, including:
