The battle to move consumers to credit cards from cash continues to rage. On Thursday, we'll find out how much progress Visa Inc (NYSE: ) made during the third quarter when it announces earnings after the markets close.
Analysts expect earnings per share of $81 cents, 17% higher than a year earlier, on revenue of $4.36 billion, 20% greater than in Q3 2016. The whisper number is three cents higher.
Visa stock is getting awfully close to the sun trading within a few basis points of $97.75, its all-time high. Anything less than an earnings beat - the past four quarterly reports have been upside surprises averaging 7.6% which translates to 87 cents - will be met with complete contempt by investors.
On that basis, shares could drop by a considerable amount, perhaps double digits.
The Odds are Slim
A quick look back at its Q2 2017 earnings tells us the company is making big inroads internationally with in the first six months of the year to $4.7...
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