Visa reports earnings: EPS 2.51 vs 2.44 estimate. Company sees 'stable consumer spending'
EPS $2.51 vs $2.41 expectedRevenues $8.80 billion vs $8.55 billion expectedShares are up 3.4%. The jump in revenue is a good sign for overall consumer spending and the metrics point to a healthy global consumer.Comments from Ryan McInerney, Chief Executive Officer:"Visa delivered strong results in the second quarter, with net revenue up 10%, GAAP EPS up 12%, and non- GAAP EPS up 20%. Overall payments volume grew 8% [y/y] and cross-border volume grew 16%, driven by stable consumer spending. As we head into the second half of the year and beyond, we remain focused on the trillions of dollars of opportunity in consumer payments and new flows and on continuing to deepen our partnerships with clients around the world by adding value across our network of networks."In the earnings presentation, there is some deceleration in Visa transactions into April:Here is the forward-looking guidance. The revenue numbers certainly don't point to any consumer weakening. This article was written by Adam Button at www.forexlive.com.
- EPS $2.51 vs $2.41 expected
- Revenues $8.80 billion vs $8.55 billion expected
Shares are up 3.4%. The jump in revenue is a good sign for overall consumer spending and the metrics point to a healthy global consumer.
Comments from Ryan McInerney, Chief Executive Officer:
"Visa delivered strong results in the second quarter, with net revenue up 10%, GAAP EPS up 12%, and non- GAAP EPS up 20%. Overall payments volume grew 8% [y/y] and cross-border volume grew 16%, driven by stable consumer spending. As we head into the second half of the year and beyond, we remain focused on the trillions of dollars of opportunity in consumer payments and new flows and on continuing to deepen our partnerships with clients around the world by adding value across our network of networks."
In the earnings presentation, there is some deceleration in Visa transactions into April:
Here is the forward-looking guidance. The revenue numbers certainly don't point to any consumer weakening. This article was written by Adam Button at www.forexlive.com.
