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26 October 2022 | Other

Visa Q4 results exceed expectations

Visa Inc

Financial results, which exceeded all expectations, were published by Visa Corporation for the fourth quarter.

The U.S. multinational announced earnings per share of $1.93 on revenue of $7.80 billion. According to a survey from Investing.com, analysts had projected earnings per share of $1.87 on revenue of $7.57 billion.

The company's results showed a boost in earnings as consumers continued to pay with their cards despite concerns about a possible recession. Fixed-currency payment volumes were up 10%, and cross-border payment volumes, which recorded card transactions outside the issuing country, were up 36%. The summer quarter was marked by a boom in travel demand.

Net revenue increased by 19%.

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