Visa (NYSE:V) delivered a stronger-than-expected first-quarter performance, fueled by a steady rise in payment volumes and a surge in cross-border transactions. As a result, the world’s largest payments processor saw its stock rise around 2% in pre-market today.
For the quarter, Visa posted earnings per share of $2.75, surpassing analysts’ expectations of $2.66. Revenue climbed to $9.51 billion, beating the consensus forecast of $9.35 billion. The company benefited from a resilient U.S. labor market and ongoing wage growth, which helped sustain consumer spending despite persistent inflation and high interest rates.
Total payments volume expanded by 9% on a constant dollar basis, while processed transactions jumped 11%, reflecting broader economic strength and increased holiday shopping activity. Visa’s CFO, Chris Suh, noted that spending growth during the key retail period from Thanksgiving to Cyber Monday outpaced last year’s figures, underscoring strong consumer demand.
Looking ahead, Visa expects net revenue growth in the high single-digit to low double-digit range for the second quarter, while full-year net revenue is projected to increase in the low-double digits—an upward revision from previous guidance. The company also anticipates high single-digit earnings per share growth in the current quarter, with full-year EPS expected to rise in the low-teens percentage range.