Visa Shares Move Higher After Better-Than-Expected Q2 Results: Details

Visa Inc. V released its second-quarter results after Tuesday’s closing bell. Here’s a look at the details from the report. 

The Details: Visa reported quarterly earnings of $2.76 per share, which beat the analyst consensus estimate of $2.68. Quarterly revenue came in at $9.59 billion, which beat the analyst consensus estimate of $9.55 billion and is up from revenue of $8.78 billion from the same period last year.

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For the second quarter, Visa reported:

• Payments Volume increased 8% year-over-year.
• Cross-Border Volume Excluding Intra-Europe increased 13% year-over-year.
• Cross-Border Volume Total grew 13% year-over-year.
• Processed Transactions increased 9% year-over-year.

“Visa’s strong 9% fiscal second quarter net revenue growth was driven by healthy trends in payments volume, cross-border volume and processed transactions. Consumer spending remained resilient, even with macroeconomic uncertainty. Our strategy across consumer payments, commercial and money movement solutions and value-added services, our diversified business model, and our focus on innovation position us well for the rest of the fiscal year and beyond,” said Ryan McInerney, CEO of Visa.

V Price Action: According to data from Benzinga Pro, Visa stock was up 2.16% after hours at $348.88 on Tuesday.  

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