Visa Beats on Q1 EPS, Launches $8 Billion Share Repurchase Program

On Thursday, Visa (NYSE: V) reported the first set of quarterly results for fiscal year 2021.

The period saw the payment card giant book net revenue of $5.69 billion, which was 6% below the same period of fiscal 2020. Non-GAAP (adjusted) net income also slumped, coming in 4% lower at $3.1 billion ($1.42).

In its earnings release for Q1, Visa CEO Alfred Kelly said that the company's performance "reflected solid results and a continued positive momentum in a challenging COVID-19 environment."

Source Fool.com