On Friday, Shares of Visa Inc. (NYSE:V), gained 4.25% to $74.80, hitting its highest level.
Visa declared financial results for the Companys fiscal third quarter 2015. GAAP net income for the quarter, inclusive of a non-cash, non-operating expense related to an adjustment in the Companys fair value of its Visa Europe put option, was $1.7 billion or $0.69 per share. These results also comprise a tax benefit of $280 million resulting from the successful resolution of uncertain tax positions with taxing authorities. All references to earnings per share assume fully-diluted class A share count unless otherwise noted.
Not taking into account the $110 million non-cash, non-operating expense recorded upon remeasurement of the Visa Europe put option, adjusted net income for the quarter was $1.8 billion, an enhance of 33% over the preceding year, or $0.74 per share, an enhance of 36% over the preceding year. The change in the fair value of the Visa Europe put option was a result of our quarterly revaluation required by U.S. GAAP. The Companys adjusted quarterly net income and earnings per share are non-GAAP financial measures that are reconciled to their most directly comparable GAAP measure in the accompanying financial tables.
Net operating revenue in the fiscal third quarter of 2015 was $3.5 billion, an enhance of 12% nominally or 14% on a constant dollar basis over the preceding year, driven by solid growth in service, data processing and international transaction revenues.
Visa Inc., a payments technology company, operates as a retail electronic payments network worldwide. The company facilitates commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities.
Shares of Qlik Technologies, Inc. (NASDAQ:QLIK), inclined 7.90% to $40.57, during its last trading session, hitting its highest level.
Qlik Technologies declared that AFAS Software, a fast-growing ERP software provider, will integrate Qlik® Sense into its online product to provide world-class visual analytics to their more than 7,000 AFAS Software clients. By integrating Qlik, more than 560,000 AFAS users will be able to leverage the benefits of enterprise-ready business intelligence (BI) within their ERP suite. This multi-million dollar investment underpins AFAS’ strategy of creating a single and integrated software solution for its customers.
The forthcoming release of AFAS’ online product, powered by Qlik Sense, will comprise an intuitive drag-and-drop interface supported by rich visual analytics, reporting, and dashboarding capabilities as a fully integrated part of the AFAS solution. With just a few clicks, users will be able to see the whole story in their data, counting historical patterns and correlations through engaging visualizations.
Bas van der Veldt, CEO of AFAS Software, commented: “As we set high standards for our offering, building an in-house BI solution was not an option. It would take years and we wanted to give our customers the best experience the market offers. Qlik proved to be the disruptive platform we were looking for. Where other ERP providers offer a BI module as a paid plug-in, we offer it for free to our customers.”
Qlik Technologies Inc. provides user-driven business intelligence solutions that enable customers to make business decisions. The company develops, commercializes, and implements software products and related services.
Finally, Cincinnati Financial Corp. (NASDAQ:CINF), ended its last trade with -0.49% loss, and closed at $53.06.
Cincinnati Financial Corporation invites interested parties to listen to the live Internet broadcast of its conference call to talk about second-quarter 2015 results on Wednesday, July 29, 2015, at 11 a.m. ET. The company plans to release its results on Tuesday, July 28, 2015, after the close of regular trading on the Nasdaq Stock Market.
Cincinnati Financial Corporation engages in the property casualty insurance business in the United States. It operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments.
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