Visa Announces Q3 Earnings with 19% Revenue Growth

Visa (NYSE:V) reported Q3 results after the close on Tuesday, with EPS of $1.98 coming in better than the consensus estimate of $1.74. Revenue increased 19% year-over-year (or 21% on a constant dollar basis) to $7.3 billion, compared to the consensus estimate of $7.06 billion, driven by year-over-year growth in payment volume, cross-border volume and processed transactions.

Visa Reports Q3 Earnings with 19% Revenue Growth. "Despite macroeconomic uncertainty, significant currency headwinds and the suspension of our operations in Russia, Visa had a very strong quarter, growing net revenues 19%, GAAP EPS 36% and non-GAAP EPS 33%," said CEO Alfred F. Kelly, Jr. "The continued levels of growth in overall payment volume, cross-border volume and processed transactions demonstrate the resilience of our business model. Consumers are back on the road, visiting various corners of the globe, resulting in cross-border travel volume exceeding 2019 levels for the first time since the pandemic began in early 2020. While the economic outlook is uncertain, we remain confident in our ability to execute with discipline and expand Visa's role at the center of money movement." The company's board of directors declared a quarterly cash dividend of $0.375 per share of Class A common stock, payable on September 1 to all shareholders of record as of August 12.