Visa Inc.’s fiscal second-quarter earnings beat analysts’ estimates as spending on its payment network remained resilient despite macroeconomic uncertainties.
Net income rose 6 per cent to US$5.44 billion, while adjusted earnings per share totaled $2.76, beating expectations of $2.68 for the three months through March. Payments volume came in at $3.34 trillion, less than the expected $3.42 trillion.
“Consumer spending remained resilient, even with macroeconomic uncertainty,” Chief Executive Officer Ryan McInerney said in a statement Tuesday.
Results for the San Francisco-based firm reiterated what other financial companies have said about the fiscal health of US consumers: they’re continuing to spend for now, but economic challenges loom amid President Donald Trump’s tariff war, muddying future expectations.
Also on Tuesday, Visa said its board authorized a new $30 billion multiyear share-repurchase program.
Visa shares climbed 2.3 per cent at 4:17 p.m. in late New York trading.
Visa is also positioning itself to take advantage of a larger portion of all transactions, with the methods individuals and businesses use for payments continue to evolve. For example, McInerney said at Visa’s investor day in February that stablecoin transactions increased by 40 per cent in the past two years.
The company also said at the investor day that it expects its value-added services – those that aren’t the traditional offerings one might associate with the firm, such as anti-fraud technologies – to account for more than half of total revenue in coming years.
Visa maintained its guidance for earnings per share for the fiscal year to grow by a percentage in the low teens, and net revenue to increase by a percentage in the low double digits.
Paige Smith, Bloomberg News
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