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MARKETS LIVE BLOG:

STOCKS ADVANCE AS FRESH EARNINGS ROLL IN

Novavax shares tank after vaccines for flu, COVID-19 put on hold

Visa: Fiscal Q3 Earnings Snapshot

Associated Press Finance
·1 min read

SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Visa Inc. (V) on Tuesday reported fiscal third-quarter profit of $4.87 billion.

The San Francisco-based company said it had net income of $2.40 per share. Earnings, adjusted for one-time gains and costs, came to $2.42 per share.

The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.41 per share.

The global payments processor posted revenue of $8.9 billion in the period, which fell short of Street forecasts. Twelve analysts surveyed by Zacks expected $8.91 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on V at https://www.zacks.com/ap/V