By Visa beats all expectations regarding earnings and revenue in Q4

© Stocksak. Visa A Earnings and Revenue Beat in Q4

By Liz Moyer – Visa (NYSE: ) reported fourth quarter revenue that exceeded expectations and beat analysts’ predictions.

The card giant announced earnings per share of $1.93 on revenues of $7.80billion. polled analysts and predicted EPS of $1.87 for revenue of $7.57 trillion.

After-hours trading saw Visa shares rise 1.5%, but they are down 37% since the beginning of the year. They are still down 17.97% from their 52-week high of $236.96 on Oct. 26, 2021.

Profit was boosted because of an increase in payments volumes. This is because consumers continued to spend on cards despite fears that there might be a recession. While payment volumes in constant currency rose 10%, cross-border volumes, which record activity on cards from countries other than the country of issue, rose 36%. The summer quarter saw a boom in travel demand.

Net revenue rose 19%

Visa A follows major Information Technology sector earnings this Month

The Visa report follows a Microsoft earnings beat on Tuesday with EPS of 2.35 on revenue $50.1 billion, compared to forecasts of EPS at $2.32 on revenue $49.86 billion.

Stay informed about all the upcoming earnings reports at’s earnings schedule

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Stocksak Editorial

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