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23/04/2024Visa Card Surpasses Earnings and Revenue Forecasts for Q2, Shares Jump
Visa Card Surpasses Earnings and Revenue Forecasts for Q2, Shares Jump
Visa Inc. (NYSE:V) experienced a notable increase of over 3% in its share price during post-market trading on Tuesday. This surge came following the company’s announcement of its fiscal second quarter 2024 results, which exceeded the expectations set by analysts. Visa reported a robust earnings per share (EPS) of $2.51, surpassing the forecast of $2.44. The company’s revenue reached $8.78 billion, outperforming the anticipated $8.62 billion.
During the quarter, Visa observed an 8% increase in payment volumes, highlighting its expanding market presence. Furthermore, its cross-border transaction volumes, excluding those within Europe, saw a significant 16% rise.
Looking ahead to the third quarter of fiscal 2024, Visa is projecting revenue growth in the low double-digits. The company maintains a similarly optimistic outlook for the entire fiscal year. Additionally, Visa’s EPS for the upcoming third quarter is expected to align with the higher end of the low double-digit range, with a full-year EPS growth projected in the low teens.
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