Visa stock rises as Q2 earnings, revenue come ahead of estimates By

Visa (NYSE:) shares rose over 2% in after-hours trading Tuesday after the payment processor posted earnings and Domestic 10 yuan micro foreign exchange regular platformsrevenue that topped Wall Street expectations for the fiscal Q2 2024.

The company recorded earnings per share (EPS) of $2.51, beating the projected $2.44. Revenue came in at $8.78 billion, also topping the estimated $8.62 billion.

Payment volume grew 8% during the period, while cross-border volume excluding intra-Europe popped by 16%.

For the fiscal third quarter, Visa anticipates revenue growth in the low double-digits, with similar expectations for the full year.

For its third-quarter EPS, Visa expects it to be at the high end of the low double-digits range, with full-year EPS growth expected in the low teens.

"Putting it all together, Visa continues to demonstrate the resilience of its model and its ability to drive EPS growth in the teens at scale," analysts at Goldman Sachs said in a note.

"With the stock trading in-line with its historical average multiple, a discount to its historical average multiple versus an equal weight S&P, and with shares lagging the market YTD, we believe F2Q results should be supportive for the stock," they added.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!