Today’s Visa IPO raised nearly $18 billion, topping the AT&T Wireless IPO of $10.6 billion in 2000 — on a day when the Dow fell 300 points.
Some interesting numbers: Visa earned $5.2 billion in revenues last year, handling 44 billion credit card transactions totaling more$3.2 trillion in value.
Unlike sub-prime mortgage holders, Visa has no debt exposure since it makes money by charging fees on each credit card transaction. Its management has forecast 20% earnings growth for the next two years.
From Yahoo! Finance.