Markets

By Investing.com: Visa beats all expectations regarding earnings and revenue in Q4


© Stocksak. Visa A Earnings and Revenue Beat in Q4

By Liz Moyer

Investing.com – 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. Investing.com 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 Investing.com’s earnings schedule

News Source and Credit

Stocksak Editorial

We are a financial blog that covers topics such as investing, saving, spending, and earning more money. Please feel free to peruse our site and read any of the articles that catch your interest.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button