Visa Inc. (Visa (V)) reported fiscal third-quarter results after Tuesday's closing bell that topped Wall Street expectations. The payments giant earned $3.32 per share, beating the consensus estimate of $3.23, according to market data. Revenue came in at $11.63 billion, also ahead of the $11.39 billion analysts were looking for.
CEO Ryan McInerney highlighted the company's key drivers: payments volume rose 10% year-over-year, cross-border volume excluding intra-Europe increased 12%, total cross-border volume was up 13%, and processed transactions grew 10%. “Visa delivered a strong fiscal third quarter, with net revenue up 14% year-over-year, GAAP EPS up 10% and non-GAAP EPS up 11%. Consumer and business spending remains resilient, and our strategy continues to deliver strong performance across consumer payments, commercial and money movement solutions and value-added services,” McInerney said in a statement.
Despite the upbeat results, Visa stock slipped 2.34% to $358 in extended trading Tuesday. The after-hours move suggests some investors may have been hoping for an even bigger beat or are taking profits after the stock's run-up. Still, the underlying trends point to a consumer that isn't pulling back just yet — good news for a company that processes trillions of dollars in transactions each year.







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