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Why Visa Stock Just Dropped 4.5%
Shares of credit card giant Visa (NYSE: V) had dropped 4.5% as of 10:40 a.m. EDT Wednesday despite the company beating earnings in its fiscal fourth-quarter 2021 earnings report released last night. Heading into Q4, analysts had forecast that Visa would earn $1.54 per share on revenue of $6.5 billion. As it turned out, Visa “beat” on both the top and bottom lines, reporting adjusted profit of $1.62 per share on sales of $6.6 billion –and when calculated according to generally accepted accounting principles (GAAP), profit of $1.65 per share — but that wasn’t good enough for investors.