What's Going On With Visa Shares Wednesday?
Portfolio Pulse from Nabaparna Bhattacharya
Visa Inc. (NYSE:V) shares rose in premarket trading after reporting Q2 2024 earnings of $2.51 per share, surpassing the consensus estimate of $2.44. Payments volume increased by 8%, and cross-border volume grew by 16% on a constant-dollar basis. Quarterly revenues were $8.775 billion, exceeding estimates of $8.627 billion. Visa expects low double-digit net revenue growth and high-end low double-digit EPS growth for Q3, with full-year 2024 expectations in the low double-digits for net revenue and low-teens for EPS growth.
April 24, 2024 | 11:10 am
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Visa Inc. reported higher than expected Q2 2024 earnings and revenue, with significant growth in payments and cross-border volumes. Shares rose 2.84% in premarket trading.
Visa's earnings beat and positive growth forecasts directly impact investor sentiment, likely leading to a short-term increase in stock price. The reported growth in key business areas and positive future outlook contribute to the positive sentiment.
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