Shares of Visa Corporation were down over 1% in after hours trade after a solid earnings report was followed by weak 2017 guidance.
The credit card provider beat Q4 forecasts of 68 cents by announcing an 18% rise in earnings to 73 cents per share. Q4 revenue increased by 15% to $4.23 billion against the same period in 2015. The better-than-expected Q4 growth was helped by its acquisition of Visa Europe.
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However, fiscal 2017 adjusted earnings per share growth was estimated at just over 15% versus a consensus for a 19% increase, which pushed the stock lower. The September low of 81.30 will offer the first key support level.
