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In 2Q16, $V entered into currency forward contracts to reduce a portion of the foreign currency exchange rate risk associated with the upfront cash consideration to be paid in the expected Visa Europe acquisition. Due to this, the company recorded non-recurring, net unrealized gains of $116MM in non-operating income.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.