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Visa Profit Beats Quarterly Estimates on Higher Spending

Reuters2022-01-28

Visa Inc beat Wall Street quarterly estimates on Thursday as improving consumer sentiment, online shopping and an uptick in travel drove spending volumes.

The world's largest payments processor said transactions rose 21% to $47.6 billion during the quarter compared with a year earlier, while cross-border volumes increased 40%.

Quarterly net revenues rose to $7.1 billion in the three months ended Dec. 31, an increase of 24% over the prior year.

"The growth in eCommerce, better than expected progress in the return of cross-border travel and a continuation of the recovery all contributed to an excellent quarter," Visa Chairman and Chief Executive Alfred Kelly said in a statement, adding he thinks recovery will continue despite the current surge in COVID-19 cases.

Visa reported profit of $3.9 billion, or $1.81 per share.

Analysts, on average, had estimated net income of $1.70 per share, according to IBES data from Refinitiv.

Shares rose by as much as 4.6% after market hours following the company's results.

Rival card companies Mastercard Inc and American Express Co also reported that they beat quarterly profit estimates this week, powered by renewed consumer spending on international travel, dining and shopping.

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Comment29

  • Kimchee
    ·2022-01-28
    Hip hip hooray!!  🥳🥳🥳
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  • Deonc
    ·2022-01-28
    Please like and comment. 
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  • Bspn
    ·2022-01-28
    Ok
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  • ashk3
    ·2022-01-28
    Excellent! 
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  • Desmond669
    ·2022-01-28
    Great
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  • Simplehuman
    ·2022-01-28
    Until the day where other payment mode overtakes. These companies will still be essential in our spending lifestyle and it can also merit from the interest rate hike. 
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  • dotdot112
    ·2022-01-28
    Wow
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  • Jialatsia
    ·2022-01-28
    Meep
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  • Jestan
    ·2022-01-28
    👍
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  • Gledz
    ·2022-01-28
    Amazing !!
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  • MO75
    ·2022-01-28
    Yup , buy CNY good online with free delivery using visa.
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  • th0mastan
    ·2022-01-28
    Profitable business with relatively cheap price, only time will tell for those to hold and buy into the company
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  • Tj23
    ·2022-01-28
    Wow
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  • Mabelicious
    ·2022-01-28
    Good stock to hold for long term!
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  • Sling1331
    ·2022-01-28
    Good
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  • Joelchua
    ·2022-01-28
    Looks like tailwinds are still there!
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  • LunaticETF
    ·2022-01-28
    Well done
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  • EHG
    ·2022-01-28
    Like 
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  • Edwardtoh
    ·2022-01-28
    Good
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  • Richard0208
    ·2022-01-28
    Good sharing 
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