Visa Inc. (V) has reported a 27.71 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $1,931 million in the quarter, compared with $1,512 million for the same period last year. On an adjusted basis, the company has earned $1,915 million, or $0.78 a share for the quarter.
Revenue during the quarter grew 19.32 percent to $4,261 million from $3,571 million in the previous year period. Total expenses were 38.39 percent of quarterly revenues, up from 36.07 percent for the same period last year. That has resulted in a contraction of 233 basis points in operating margin to 61.61 percent.
Operating income for the quarter was $2,625 million, compared with $2,283 million in the previous year period.
"We continue to deliver healthy earnings growth in the face of continued, but abating headwinds. We have begun to see the benefits from our acquisition of Visa Europe and strong cost discipline helped our results. At the same time, we are unwavering in our commitment to invest in client partnership opportunities and the further build out of our digital payments capabilities," said Charlie Scharf, Chief Executive Officer of Visa Inc.
Operating cash flow declines
Visa Inc. has generated cash of $5,574 million from operating activities during the year, down 15.34 percent or $1,010 million, when compared with the last year.
The company has spent $10,916 million cash to meet investing activities during the year as against cash outgo of $1,435 million in the last year.
Cash flow from financing activities was $7,477 million for the year as against cash outgo of $3,603 million in the last year period.
Cash and cash equivalents stood at $5,619 million as on Sep. 30, 2016, up 59.72 percent or $2,101 million from $3,518 million on Sep. 30, 2015.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
