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Visa Q4 results exceed expectations
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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