Visa Rises on Earnings Beat, New Buyback Plan

[Stocks-to-Watch]

Visa (V) rose 0.4% after posting an earnings beat and authorizing a new share buyback plan.

Visa posted $1.49 of EPS on $2.55 billion in revenue. Analysts expected of $1.45 of EPS and $2.47 billion in revenue. The company authorized a new $500 million buyback program.

“Payments volume growth, on a constant dollar basis, for the three months ended September 30, 2011, on which fiscal first quarter service revenue is recognized, was a positive 13% over the prior year at $971 billion.”



Original Article Source by Barrons.com