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US Markets
Visa Raises Fiscal 2026 Growth Outlook Following Second-Quarter Beat
Visa (V) shares rose early Wednesday after the payments giant lifted its full-year growth outlook and reported better-than-expected fiscal second-quarter results.The company now anticipates per-share adjusted earnings to increase by low-teens and adjusted revenue to rise by low-double-digit to low-teens, each on constant-dollar bases, for fiscal 2026, it said in a late Tuesday earnings presentation. It previously estimated both metrics to grow by low-double-digits, respectively.The current consensus on FactSet is for non-GAAP EPS of $12.98 and sales of $45.05 billion for the fiscal year. The stock advanced 4.5% in the most recent premarket activity.The increased revenue growth guidance reflects the company's "strong year-to-date performance" and current assumptions on "drivers, incentives, volatility and expected higher value-added services revenue growth, which incorporates the increased enthusiasm from our clients for the upcoming FIFA World Cup," Chief Financial Officer Christopher Suh said during an earnings call, according to a FactSet transcript.Visa continues to expect broader consumer spend stability from a macro perspective, although the conflict in the Middle East has introduced uncertainty in the short term, especially related to cross-border travel spend in the Central and Eastern Europe, Middle East and Africa region, according to Suh.The company forecasts improvements in inbound travel in the US and Latin America due to the 2026 FIFA World Cup, Suh told analysts.For the three-month period ended March, adjusted EPS increased to $3.31 from $2.76 a year earlier, ahead of the Street's view for $3.10. Revenue rose 17% to $11.23 billion, topping the average analyst estimate of $10.75 billion. On a constant-dollar basis, revenue advanced 16% on a yearly basis."Consumer spending remained resilient, and our strategy and innovations fueled strong performance in consumer payments, commercial and money movement solutions and value-added services," Chief Executive Ryan McInerney said in a statement.Visa's cross-border volume, excluding transactions within Europe, rose 11% on a constant-dollar basis. Payments volume grew 9% year over year in constant dollars, with the US logging a gain of 8%, according to Suh. Payments volume moved 10% higher in international markets, Suh said on the call.Service revenue increased 13% to $4.98 billion while data processing revenue jumped 18% to $5.54 billion. International transaction revenue inclined 10% to $3.63 billion. Other revenue soared 41%, primarily driven by growth in advisory and other value-added services, especially marketing services revenue, as well as pricing, Suh told analysts.For the ongoing three-month period, Visa expects adjusted EPS and net revenue to grow by mid-to-high single digits and by low double digits, respectively, in constant dollar terms. The Street is looking for non-GAAP EPS of $3.20 and sales of $11.24 billion.
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Research
Research Alert: Regn Posts Strong Q1 Fueled By Dupixent And Eylea Hd Amid Manufacturing Issues
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Regeneron delivered robust Q1 2026 results with total revenues of $3.6B (+19% Y/Y) and non-GAAP EPS of $9.47 (+15% Y/Y), beating consensus estimates. The EYLEA franchise continues to transition from traditional EYLEA to EYLEA HD, with HD sales reaching $468M (+52% Y/Y) while traditional sales declined to $473M (-36% Y/Y) due to biosimilar competition. We view the underlying portfolio strength as encouraging, with Dupixent maintaining exceptional momentum at global sales of $4.9B (+33% Y/Y) and physician unit demand for EYLEA HD increasing 10% sequentially despite inventory normalization. Management expects manufacturing disruptions at the Limerick facility to normalize by the end of Q2, lowering full-year GAAP gross margin guidance to 77%-78%. We believe the company's diversified revenue base and deep pipeline of nearly 50 clinical programs, including the recent Otarmeni approval and advancing Factor XI antibody Phase 3 studies, position REGN well for continued growth despite near-term manufacturing headwinds.
$REGN
Asia
Rita Finance and Leasing Names CFO
Rita Finance and Leasing (BOM:543256, NSE:RFLL) appointed Mukesh Laxman Sharma as chief financial officer of the company, effective Wednesday, according to a same-day filing on Indian bourses.
$BOM:543256$NSE:RFLL