Proactive Investors - Visa Inc (NYSE:V) is reporting its fiscal second quarter 2023 earnings after the closing bell on Tuesday, April 25, with the global digital payment technology company expected to have performed strongly during the period.
Increased transaction volumes, including a jump in high-margin cross-border transactions with the rebound in travel post-pandemic, are expected to drive Visa's growth this quarter.
Investors are hoping for another quarterly earnings beat from the company, which posted a 12% increase in revenue, a 6% jump in profit, and a 21% leap in its earnings per share from the previous quarter, fiscal 1Q 2023, ended December 31, 2022.
For the quarter ended in March, analysts expect Visa to post revenue of $7.74 billion, up about 7.7% from revenue of $7.2 billion in the year-ago quarter.
Earnings per share are expected to come in at $1.97, up 10.1% from earnings per share of $1.79 in 2Q 2022, according to Zacks Equity Research.
Positivity around the stock, in part, stems from Visa’s innovation around market trends in the digital payments sector, such as its recently announced peer-to-peer payment offering Visa+ that allows users to transfer funds to other payment services, such as PayPal (NASDAQ:PYPL) and Venmo.
Visa shares were trading modestly lower ahead of its results, down 0.7% at US$232.47 on Monday afternoon.
-- Updated with share price --