Visa (NYSE:V) delivered better-than-expected fiscal second-quarter results, powered by robust gains in payments and cross-border volumes, and announced a massive new $30 billion share repurchase program.
The payments giant reported earnings of $2.76 per share, surpassing analyst expectations of $2.68. Revenue rose 9% year-over-year to $9.6 billion, slightly ahead of the $9.55 billion consensus. The company benefited from strong underlying trends, including a 13% jump in cross-border volume and a 9% increase in processed transactions, underscoring continued consumer and business activity across markets.
In a show of confidence, Visa’s board authorized a new $30 billion buyback of class A common stock, adding to its already aggressive capital return program.