Visa crushes Wall Street estimates

Visa Inc. announced its fiscal second quarter 2022 results after the closing bell on Wall Street on Tuesday.

The financial services giant topped both revenue and earnings per share estimates, sending the share price higher on Wednesday.

The company reported revenue of $7.189 billion in the quarter vs. $6.833 billion estimate.

Earnings per share reported at $1.79 per share vs. $1.65 per share expected.

Alfred F. Kelly Jr., Chairman and CEO of Visa commented on the latest results following the announcement: “We had a very strong quarter amidst the invasion of Ukraine and our decision to suspend operations in Russia, with GAAP EPS up 23% and non-GAAP EPS up 30%. The Omicron variant impacts were short lived and the global economic recovery that began in the middle of last year continued. We had solid growth in most countries around the globe and across all elements of our business, with revenue growth of over 20% in consumer payments, new flows and value added services. While the geopolitical environment remains uncertain, we expect continued growth driven by a robust travel recovery and through the enablement of traditional and newer ways to pay globally.”

Visa Inc. chart

Visa shares were up by over 8% during the trading day on Wednesday, trading at $217.76 per share.

Here is how the stock has performed in the past year:

• 1 Month -2.86%
• 3 Month +5.67%
• Year-to-date +0.38%
• 1 Year -6.82%

Visa price predictions

Morgan Stanley: $284

Credit Suisse: $265

Barclays: $260

Wedbush: $270

Mizuho: $220

Visa Inc. is the 12^th largest company in the world, with a total market cap of $471.64 billion.

You can trade Visa Inc. (V) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: Visa Inc., TradingView, CompaniesMarketCap