Visa earnings: 86 cents per share, vs expected EPS of 79 cents

Key Points
  • Visa reported earnings that beat analysts' expectations.
  • EPS: 86 cents vs. 79 cents expected
  • Revenue: $4.48 billion vs. $4.295 billion expected
Visa rallies after strong Q2

reported quarterly earnings and revenue that beat analysts' expectations on Thursday.

The company also announced a $5 billion buyback of class A common stock.

Here's how the company did compared with analysts' estimates according to Thomson Reuters:

  • EPS: 86 cents vs. 79 cents expected
  • Revenue: $4.48 billion vs. $4.295 billion expected

Shares of Visa gained 3 percent in after-hours trading.

The company posted fiscal second-quarter earnings per share of 86 cents on $4.48 billion in revenue. Analysts had forecast the payment company to report earnings of 79 cents per share on $4.295 billion in revenue, according to Thomson Reuters consensus estimates.

Visa CEO Alfred F. Kelly Jr. said the company executed well in an uncertain geopolitical environment.

"Robust growth in payments volume, cross-border volume and processed transactions drove better than expected results. Looking ahead, we are continuing our efforts across the globe to electronify commerce and digitize economies to the benefit of consumers and societies alike," Kelly said in a statement.

Visa said its second-quarter revenue grew 23 percent year-over-year as the company continued to see benefits from the closing of the acquisition of Visa Europe.

Last month, Visa unveiled a prototype of sunglasses at the South by Southwest Festival that would let the wearer pay with them, using near-field communication (NFC) technology.

The stock set a new all-time intraday high of $92.05 on March 20. As of their Wednesday close, shares of Visa have gained 15 percent so far this year.

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