Visa Inc. called out robust spending trends as the payment-technology giant topped earnings and revenue expectations for its latest quarter.
Revenue... Visa Inc. called out robust spending trends as the payment-technology giant topped earnings and revenue expectations for its latest quarter. Revenue rose to $8.12 billion from $7.28 billionC, while analysts tracked by FactSet were expecting $8.06 billion.Shares of Visa were up 0.5% in after-hours action Tuesday.
The company’s cross-border volume excluding intra-Europe transactions rose 22%, while overall cross-border volume was ahead 17%. Cross-border transactions occur when a cardholder spends with a merchant based in a country other than where their card was issued, and it is often viewed as a proxy for travel-related spending, though it also includes other elements such as cross-border e-commerce.