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Visa Beats Quarterly Estimates Riding Summer Travel Boom Across United States – $V $DIA

By John F. Heerdink, Jr.

Reportedly, Visa Inc. (V) beat estimates for quarterly profit as consumer spending increased and a summer travel boom across much of the United States translated into higher card spending. The world’s largest payments processor raked in higher revenue as payment volumes jumped 12% during the third quarter, boosted by a 40% surge in cross-border volumes. Travel-related cross-border volumes were 16% above 2019. Visa posted an adjusted net income of $1.98 per share, marginally beating the $1.75 a share expected by analysts.

“While a company like Walmart may get hurt if consumers move their spending from higher-margin clothing to low-margin groceries, Visa gets their cut just the same. Whether people buy champagne in a bull market or beer in a recession, Visa stands to earn,” stated Scott Lieberman, founder of TouchdownMoney.com

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Its mission is to connect the world through the most innovative, reliable, and secure payment network – enabling individuals, businesses, and economies to thrive.  Their advanced global processing network, VisaNet, provides secure and reliable payments around the world and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying its brand, products, people, network, and scale to reshape the future of commerce. To learn more about Visa (V) and to track its ongoing progress please visit the Vista Partners Visa (V) Coverage Page.)

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Visa profit sails past estimates on resilient consumer demand in Reuters)


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