{"id":1919214,"date":"2023-04-25T20:41:53","date_gmt":"2023-04-26T00:41:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/visas-payments-business-helps-profit-exceed-wall-street-estimates\/"},"modified":"2023-04-25T20:43:05","modified_gmt":"2023-04-26T00:43:05","slug":"visas-payments-business-helps-profit-exceed-wall-street-estimates","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/visas-payments-business-helps-profit-exceed-wall-street-estimates\/","title":{"rendered":"Visa\u2019s payments business helps profit exceed Wall Street estimates"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fvisas-payments-business-helps-profit-exceed-wall-street-estimates%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1919214&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>Get ready for some good news! Visa Inc just reported a better-than-expected second-quarter profit, and they&#8217;re betting on sustained growth at their payments business. This is great news for consumers who are bracing for a milder recession than was once feared.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">\n<script>  \t\t\ngoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t\n<\/script>\n<\/div>\n<\/p>\n<p>Visa&#8217;s shares have already risen 11% this year, and they&#8217;re up another 2.4% in after-hours trading. It&#8217;s no surprise, considering that card companies escaped the economic downturn of last year unscathed on the back of a strong dollar and a rebound in travel, particularly in China. Executives have downplayed the turmoil in the economy for several quarters, and it looks like they were right to do so.<\/p>\n<p>\u201cConsumer payments remains a massive opportunity for Visa,\u201d said Chief Executive Officer Ryan McInerney on a post-earnings call. \u201cThere is a very long runway for growth in this business.\u201d<\/p>\n<p>Payment volumes for the three months ended March rose 10%, while cross-border volume excluding Europe, a measure of Visa\u2019s revenue from international transactions, increased 32%. That&#8217;s a decline from a year ago, but it&#8217;s still impressive.<\/p>\n<p>\u201cWhile the current environment still feels uncertain, we have contingency plans ready and are prepared to take action as needed,\u201d McInerney said. It&#8217;s good to know that Visa is prepared for any eventuality.<\/p>\n<p>Transactions processed rose 12% in the quarter, below 19% growth a year before. That prompted an 11% increase in net revenue, the slowest in eight quarters. Visa&#8217;s results follow peer American Express Inc, which stockpiled $1.1 billion to cover potential defaults and spent more on promotions, missing Wall Street estimates on Thursday.<\/p>\n<p>On an adjusted basis, Visa earned $2.09 per share in the quarter ended March, exceeding analysts\u2019 estimates of $1.99, according to data from Refinitiv IBES.<\/p>\n<p>It&#8217;s great to see Visa doing so well, and we can&#8217;t wait to see what the future holds for this payments giant. (Reporting by Mehnaz Yasmin in Bengaluru; Editing by Maju Samuel)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/visas-payments-business-helps\/attachment\/file-photo-illustration-of-visa-credit-and-debit-cards\/\"><\/a><\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>U.S. home prices increased unexpectedly in February as mortgage rates softened and buyers returned to the market.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>Arizona Congressman Andy Biggs says he\u2019s skeptical about Joe Biden\u2019s re-election plans and says he will not be voting for the GOP\u2019s plan to raise the debt ceiling while cutting government spending<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>One America News extends an offer to Tucker Carlson after he and Fox News part ways.\u00a0<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>The book ban battle rages on as some parents say books with pornographic or inappropriate content should be removed from schools.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>By Jane Lanhee Lee OAKLAND, California (Reuters) \u2013 Terra Quantum, a quantum computer hardware and software startup based in Germany and Switzerland,\u2026 <\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>TOKYO (Reuters) \u2013 Japanese Prime Minister Fumio Kishida said on Tuesday the country supports the development of industrial uses of generative artificial\u2026 <\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>By Hyunsu Yim (Reuters) -Netflix Inc said on Tuesday it will invest $2.5 billion in South Korea over the next four years\u2026 <\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>BEIJING (Reuters) \u2013 China\u2019s financial hub of Shanghai will promote investments in specialized technology including chip design, circuitry and artificial intelligence as\u2026 <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Mehnaz Yasmin (Reuters) -Visa Inc reported a better-than-expected second-quarter profit on Tuesday and bet on sustained growth at its payments business, as consumers brace for a milder recession than was once feared. The San Francisco-based payments processor\u2019s shares, up 11% so far this year, rose another 2.4% in after-hours trading. Card companies escaped the<\/p>\n","protected":false},"author":66,"featured_media":1919216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[4284,6004,22208,9984,5398,7116,4355,8908,4354],"class_list":["post-1919214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-business","tag-estimates","tag-exceed","tag-helps","tag-payments","tag-profit","tag-street","tag-visas","tag-wall"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1919214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1919214"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1919214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1919216"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1919214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1919214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1919214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}