Visa, Inc. V shares are trading higher after the reported its second-quarter financial results after the bell Tuesday. Here's a look at the highlights.
The Details: Visa reported quarterly adjusted earnings of $2.51 per share which beat the analyst consensus estimate of $2.44 by 2.87%.
Quarterly revenues came in at $8.775 billion, beating the analyst consensus estimate of $8.627 billion by 1.72% and representing a 9.89% over sales of $7.985 billion from the same period last year.
Payments volume increased 8% over the prior year on a constant-dollar basis. Service revenue was $4.0 billion, an increase of 7% over the prior year, and is recognized based on payments volume in the prior quarter. All other revenue categories are recognized based on current quarter activity.
Data processing revenue rose 12% over the prior year to $4.3 billion. International transaction revenue grew 9% over the prior year to $3.0 billion. Other revenue of $756 million rose 37% over the prior year. Client incentives were $3.3 billion, up 12% over the prior year.
Outlook: 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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V Price Action: According to Benzinga Pro, Visa shares are up 2.99% after-hours at $282.30 at the time of publication Tuesday.
Photo: Courtesy of Visa, Inc.
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