Visa Inc. V shares are trading higher in the premarket session on Wednesday.
After yesterday’s closing bell, Visa reported second-quarter 2024 adjusted earnings of $2.51 per share, which beat the analyst consensus estimate of $2.44 by 2.87%.
Payments volume for the three months ended March 31, 2024, increased by 8%, while cross-border volume, excluding transactions within Europe, which drives international transaction revenue, increased
16% on a constant-dollar basis. Total cross-border volume on a constant-dollar basis increased by 16% in the quarter.
Quarterly revenues came in at $8.775 billion, beating the analyst consensus estimate of $8.627 billion, up 9.89% year over year.
Cash, equivalents, and investment securities were $20.8 billion at March 31, 2024.
Visa expects third-quarter net revenue growth in the low double-digits and earnings per share in the high end of low double-digits.
The company currently expects full-year 2024 net revenue growth in the low double-digits and earnings per share growth in the the low-teens.
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Price Action: V shares are trading higher by 2.84% to $281.89 premarket at the last check Wednesday.
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