Visa Shares Are Moving After Hours: What's Going On?

Visa Inc V shares are volatile in Tuesday's after-hours session after the company reported its fiscal third-quarter financial results.

Visa said third-quarter revenue increased 19% year-over-year to $7.28 billion, which beat the $7.06-billion estimate, according to data from Benzinga Pro. The company said its strong revenue results were driven by year-over-year growth in payments volume, cross-border volume and processed transactions.

Visa reported quarterly earnings of $1.98 per share, which beat the estimate of $1.74 per share.

"Consumers are back on the road, visiting various corners of the world, resulting in cross-border travel volume surpassing 2019 levels for the first time since the pandemic began in early 2020," said Alfred Kelly, chairman and CEO of Visa.

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V Price Action: Visa has a 52-week high of $235.85 and a 52-week low of $185.91.

The stock initially jumped on the report before reversing and turning negative. Visa shares were down 0.49% in after-hours at $211.02 at press time. 

Photo: MBatty from Pixabay.