Visa Scores an Earnings Beat. The Stock Pops.
Visa profit and revenue during its fiscal second quarter increased from a year ago, the company said on Tuesday, as solid travel and spending patterns continue to hold up in spite of hot inflation levels. Visa shares rose 3% in after-hours trading. Stable consumer spending drove increases in overall payments volume and cross-border volume of 8% and 16%, respectively, from a year ago, Visa Chief Executive Ryan McInerney said in a statement.