Visa blows past expectations in its fiscal Q2

full version at invezz

Visa Inc (NYSE: V) is trading up in extended hours on Tuesday after reporting market-beating financial results for its second quarter.

Here’s what Visa expects for fiscal 2024

Investors are cheering also because the management issues upbeat guidance for the future. Visa now forecasts low-teens and low-double-digit growth in its earnings and revenue this year.

Analysts, in comparison, were at $9.93 a share and $35.86 billion, respectively. Ryan Mclnerney – the chief executive of $V said in a press release today:

We remain focused on the trillions of dollars of opportunity in consumer payments and new flows.

The financial technology behemoth announced 52 cents a share of quarterly dividend on Tuesday. Visa stock is currently down about 5.0% versus its year-to-date high.

“If I had to choose one, I would pick #Visa. It will give us a good read on spending on the part of the consumer,” says @bespokeinvest’s @PaulHickey. He shares the earnings reports he’ll be watching tomorrow.@jonfortt $V #earnings pic.twitter.com/sM6N8TPGO7
— CNBCOvertime (@CNBCOvertime) April 22, 2024

Notable figures in Visa Q2 earnings release

Earned $4.7 billion versus the year-ago $4.25 billion
Per-share earnings also climbed from $2.03 to $2.29
Adjusted EPS printed at $2.51 as per the earnings report
Revenue jumped 10% year-over-year to $8.8 billion
Consensus was $2.44 a share on $8.62 billion in revenue

Visa Inc saw its processed transactions and payments volume climb 11% and 8.0% in the second quarter on the back of stable consumer spending. CEO Mclnerney also said on Tuesday: