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Visa shares jump as earnings best estimates. How it withstood the market selloff.

Shares of Visa surged after the company reported better-than-expected earnings.

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Visa

the stock jumped after the credit card company reported better than expected revenue. Credit the return of international travel for the pace.

Visa (symbol: V) reported a profit in the second fiscal quarter of $1.79 per share, beating forecasts of $1.65 per share, on sales of $7.189 billion, ahead of estimates of $6.833 billion.

“Visa just released strong F2Q results with revenue growth of +25% beating the guide, which we estimate at around +19%,” wrote Dan Dolev, analyst at Mizuho.

How did Visa do it? With cross-border transactions, of course. Cross-border transactions increased by 38% in total and by 47% outside intra-Europe. “As expected, results were boosted by strong high-margin cross-border trading,” Dolev writes.

The market was pleased with Visa’s results. Visa stock gained 5.5% to $212.08 in after-hours trading on Thursday, even as futures disappointed earnings at companies like


Texas Instruments

(TXN) and


Alphabet

(GOOGL) caused the


Invesco QQQ

exchange-traded fund (QQQ), which follows


Nasdaq-100,

fell 1% in after-hours trading. the


SPDR Dow Jones Industrial Average ETF

(DIA), which follows the


Dow Jones Industrial Average,

fell 0.2% in after-hours trading, while the


SPDR S&P 500 ETF

(SPY), which follows the


S&P 500,

fell by 0.4%.

Write to Ben Levisohn at ben.levisohn@barrons.com