The surprise of the week was Visa Inc. (V), which reported double-digit revenue and earnings growth. The company announced that gross revenue was $7.8 billion. The dividend is secure with net revenue of $6.1 billion.
Q4 ended strongly with over $47 billion dollars in payment transactions, an increase of $5.3 billion or 12.6%, compared to this quarter last year.
Based on these positive earnings results, I expect Visa shares to move higher over the next 52 weeks.
Amazon.com, Inc. (AMZN) on the other hand did not fare as well. Total revenue was reported at $70 billion (a jump of 24% year over year.) This revved-up earnings growth can be attributed to the company's upgrading of Amazon Prime's core free delivery benefit from two days to one day.
However, they reported third-quarter profit of only $2.1 billion, down 26% year over year. This is the first time Amazon earnings have shrunk year-over-year since June 2017.
I do not recommend purchase additional shares of Amazon.com at this time.
Because we are in the middle of earnings season, you must pay attention to the top-line revenue of all of the stocks you own.
Stay Open. Stay in the know.
Tyrone Jackson
The Wealthy Investor
