NEW YORK, NY / ACCESSWIRE / July 24, 2017 / Visa and E*TRADE both saw gains on Friday and hit new highs. Visa reported third quarter earnings that beat the street while E*TRADE reported second quarter financial results that topped estimates.

RDI Initiates Coverage on:

Visa Inc.
https://ub.rdinvesting.com/news/?ticker=V

E*TRADE Financial Corporation
https://ub.rdinvesting.com/news/?ticker=ETFC

Visa Inc.'s shares closed up 1.52% on a little over 17 million shares traded this past Friday. The stock hit a new high of $100.49 during intra-day trading after reporting impressive third quarter results. The San Francisco-based company reported a profit of $2.06 billion and net income of 86 cents per share. These easily topped the Street's expectations as analysts surveyed by Zack's Investment Research were waiting for 80 cents per share. Revenue at $4.57 billion was also higher than the $4.36 billion that analysts had called for. Looking ahead, the company reiterated its guidance with an annual operating margin forecast of mid-60% and client incentives are expected to account for 20-20.5% of its gross revenue. Annual net revenue is forecast for a growth of 20% and adjusted earnings per share are expected to be 20% on a normal dollar basis. Since the start of the year, shares of Visa have risen by 27%.

Access RDI's Visa Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=V

E*TRADE Financial Corporation's shares closed up 5.13% and hit a new high of $41.83 on Friday after reporting a beat in its second quarter financial results. The company reported adjusted earnings of 52 cents per share for the period, beating the 48 cents that the Street had called for. Net revenue at $577 million was not only higher than the $554.3 million that analysts were looking for, but also up 21.7% from the year ago quarter. The financial services company also saw a 6% boost in customer accounts with 5.3 million customer accounts for the period. Customer assets also saw growth with a 22% year over year jump at $348.2 billion. Shares of the stock have risen 20% since the start of the year. Traders were also encouraged by E*TRADE's announcement on a $1 billion share-repurchase program.

Access RDI's E*TRADE Financial Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=ETFC

Our Actionable Research on Visa Inc. (NYSE: V) and E*TRADE Financial Corporation (NASDAQ: ETFC) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDinvesting.com